MAI Capital Management Trims Holdings in Monster Beverage Co. (NASDAQ:MNST)

MAI Capital Management reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,374 shares of the company’s stock after selling 1,143 shares during the quarter. MAI Capital Management’s holdings in Monster Beverage were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ninety One UK Ltd increased its position in Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after purchasing an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Monster Beverage by 1,148.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after buying an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at approximately $81,757,000. Public Sector Pension Investment Board lifted its holdings in Monster Beverage by 9,260.6% in the second quarter. Public Sector Pension Investment Board now owns 1,041,275 shares of the company’s stock valued at $52,012,000 after acquiring an additional 1,030,151 shares during the last quarter. Finally, National Bank of Canada FI grew its position in Monster Beverage by 151.3% in the second quarter. National Bank of Canada FI now owns 1,270,004 shares of the company’s stock worth $63,371,000 after acquiring an additional 764,632 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $54.06 on Friday. The firm has a market capitalization of $52.57 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The business’s fifty day moving average price is $52.74 and its 200 day moving average price is $51.07. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22.

Wall Street Analyst Weigh In

A number of research firms have commented on MNST. Citigroup reduced their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Roth Mkm lowered their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Truist Financial reduced their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Piper Sandler lowered their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus lifted their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.