Prospera Private Wealth LLC Invests $212,000 in Monster Beverage Co. (NASDAQ:MNST)

Prospera Private Wealth LLC bought a new position in Monster Beverage Co. (NASDAQ:MNST) during the 3rd quarter, Holdings Channel.com reports. The fund bought 4,073 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds have also recently modified their holdings of MNST. Ninety One UK Ltd lifted 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 buying an additional 3,620,436 shares in the last quarter. Assenagon Asset Management S.A. increased its position in 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 worth $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB bought a new stake in Monster Beverage in the second quarter worth $81,757,000. Public Sector Pension Investment Board increased its position 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 worth $52,012,000 after purchasing an additional 1,030,151 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Monster Beverage by 37.1% in the first quarter. Epoch Investment Partners Inc. now owns 2,898,894 shares of the company’s stock worth $171,846,000 after purchasing an additional 784,606 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MNST. 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 report on Thursday, August 8th. Evercore ISI reduced their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup reduced their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial cut their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Stock Down 0.1 %

Shares of MNST opened at $53.70 on Thursday. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The firm has a fifty day moving average price of $52.60 and a 200-day moving average price of $51.05. The firm has a market capitalization of $52.22 billion, a P/E ratio of 34.42, a P/E/G ratio of 2.48 and a beta of 0.74. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

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.