Commerce Bank Lowers Holdings in Monster Beverage Co. (NASDAQ:MNST)

Commerce Bank trimmed its holdings in Monster Beverage Co. (NASDAQ:MNST) by 31.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 23,609 shares of the company’s stock after selling 10,595 shares during the period. Commerce Bank’s holdings in Monster Beverage were worth $1,232,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in shares of Monster Beverage during the first quarter worth $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage during the second quarter worth $26,000. Kings Path Partners LLC purchased a new position in shares of Monster Beverage during the second quarter worth $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Monster Beverage during the second quarter worth $30,000. Finally, Quarry LP boosted its position in shares of Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after buying an additional 497 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MNST. Royal Bank of Canada decreased their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Piper Sandler decreased their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, Bank of America raised their price target on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Performance

NASDAQ MNST opened at $54.06 on Monday. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $52.74 and its two-hundred day moving average is $51.03. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The stock has a market capitalization of $52.57 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.58 and a beta of 0.74.

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.