Pacer Advisors Inc. Reduces Holdings in Monster Beverage Co. (NASDAQ:MNST)

Pacer Advisors Inc. lowered its position in Monster Beverage Co. (NASDAQ:MNST) by 0.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 120,917 shares of the company’s stock after selling 233 shares during the period. Pacer Advisors Inc.’s holdings in Monster Beverage were worth $6,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $26,000. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $26,000. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at approximately $30,000. Finally, Quarry LP lifted its holdings in Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock valued at $41,000 after acquiring an additional 497 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.1 %

Shares of Monster Beverage stock opened at $54.06 on Monday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The company has a market capitalization of $52.57 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.58 and a beta of 0.74. The company has a 50 day moving average of $52.74 and a 200 day moving average of $51.03.

Analyst Ratings Changes

Several research firms have issued reports on MNST. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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. BMO Capital Markets reduced their price target on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Truist Financial lowered their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.45.

About Monster Beverage

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.