Toronto Dominion Bank Acquires 179,684 Shares of Monster Beverage Co. (NASDAQ:MNST)

Toronto Dominion Bank grew its holdings in Monster Beverage Co. (NASDAQ:MNST) by 82.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 396,879 shares of the company’s stock after purchasing an additional 179,684 shares during the period. Toronto Dominion Bank’s holdings in Monster Beverage were worth $20,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MNST. Janus Henderson Group PLC increased its stake in shares of Monster Beverage by 109.3% in the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after purchasing an additional 11,779,162 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after purchasing an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. State Street Corp increased its stake in shares of Monster Beverage by 6.9% in the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after purchasing an additional 2,168,379 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Monster Beverage in the 3rd quarter valued at $73,600,000. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

MNST has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Bank of America boosted their price objective on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Needham & Company LLC began coverage on Monster Beverage in a research report on Friday, December 6th. They set a “hold” rating on the stock. Stifel Nicolaus boosted their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Up 1.6 %

Shares of NASDAQ:MNST opened at $52.92 on Friday. The business’s 50 day simple moving average is $53.33 and its two-hundred day simple moving average is $51.05. The firm has a market cap of $51.47 billion, a P/E ratio of 33.92, a PEG ratio of 2.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-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.