William Allan Corp Purchases New Position in Monster Beverage Co. (NASDAQ:MNST)

William Allan Corp acquired a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) during the third quarter, Holdings Channel.com reports. The fund acquired 23,119 shares of the company’s stock, valued at approximately $1,206,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNST. Loomis Sayles & Co. L P raised its position in shares of Monster Beverage by 4.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after purchasing an additional 1,229,789 shares in the last quarter. Ninety One UK Ltd lifted its position 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 worth $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in 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. boosted its position in Monster Beverage by 1,148.0% during 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 period. Finally, DSM Capital Partners LLC boosted its holdings 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 period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company increased their price objective on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Truist Financial cut their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. UBS Group increased their price target on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler cut their price objective 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. Two research 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’s stock. According to data from MarketBeat, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Trading Up 0.6 %

NASDAQ:MNST opened at $55.14 on Friday. The stock has a fifty day simple moving average of $53.03 and a 200 day simple moving average of $51.08. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $53.62 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year 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.