Bellwether Advisors LLC Makes New $1.66 Million Investment in Monster Beverage Co. (NASDAQ:MNST)

Bellwether Advisors LLC bought a new stake in Monster Beverage Co. (NASDAQ:MNST) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 31,865 shares of the company’s stock, valued at approximately $1,662,000.

A number of other hedge funds have also made changes to their positions in MNST. Janus Henderson Group PLC lifted its stake in Monster Beverage by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after buying an additional 440,962 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Monster Beverage by 9.5% in the second quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock worth $158,546,000 after acquiring an additional 275,209 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Monster Beverage by 1,148.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after acquiring an additional 2,388,798 shares in the last quarter. Finally, DSM Capital Partners LLC boosted its stake in shares of Monster Beverage by 13.7% during the second quarter. DSM Capital Partners LLC now owns 2,225,726 shares of the company’s stock valued at $111,175,000 after acquiring an additional 268,198 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company upped their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Finally, Citigroup decreased their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Price Performance

Shares of MNST opened at $53.99 on Wednesday. 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 company has a market capitalization of $52.51 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 2.48 and a beta of 0.74. The business’s 50-day moving average is $52.52 and its 200-day moving average is $51.04. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.

Monster Beverage 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.