Ashton Thomas Private Wealth LLC Sells 763 Shares of Monster Beverage Co. (NASDAQ:MNST)

Ashton Thomas Private Wealth LLC lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,964 shares of the company’s stock after selling 763 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Monster Beverage were worth $676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNST. Baillie Gifford & Co. acquired a new position in shares of Monster Beverage during the third quarter worth approximately $14,819,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Monster Beverage in the 3rd quarter worth approximately $1,372,000. Venturi Wealth Management LLC lifted its holdings in Monster Beverage by 12.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,864 shares of the company’s stock worth $254,000 after buying an additional 552 shares in the last quarter. Delta Financial Advisors LLC boosted its position in Monster Beverage by 12.0% in the 3rd quarter. Delta Financial Advisors LLC now owns 21,516 shares of the company’s stock valued at $1,122,000 after buying an additional 2,308 shares during the last quarter. Finally, Ashton Thomas Securities LLC increased its stake in shares of Monster Beverage by 13.5% in the 3rd quarter. Ashton Thomas Securities LLC now owns 15,802 shares of the company’s stock valued at $824,000 after buying an additional 1,874 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MNST. JPMorgan Chase & Co. decreased their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Piper Sandler reduced their target price on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Argus boosted their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial reduced 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 note on Friday, August 9th. Finally, Citigroup dropped their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Price Performance

NASDAQ MNST opened at $55.96 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The stock has a market cap of $54.42 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.67 and a beta of 0.74. The business has a 50 day simple moving average of $52.18 and a 200 day simple moving average of $51.06. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22.

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.