Wellington Management Group LLP Buys 596,078 Shares of Monster Beverage Co. (NASDAQ:MNST)

Wellington Management Group LLP boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,898,127 shares of the company’s stock after purchasing an additional 596,078 shares during the period. Wellington Management Group LLP owned about 0.40% of Monster Beverage worth $203,365,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Journey Advisory Group LLC lifted its position in shares of Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after buying an additional 196 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Monster Beverage by 0.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after acquiring an additional 211 shares during the period. Accretive Wealth Partners LLC lifted its holdings in Monster Beverage by 1.3% during the third quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock valued at $930,000 after purchasing an additional 225 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the period. Finally, Ieq Capital LLC increased its stake in shares of Monster Beverage by 0.3% in the second quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock worth $3,433,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MNST. TD Cowen lifted their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Needham & Company LLC began coverage on Monster Beverage in a report on Friday. They set a “hold” rating on the stock. Roth Mkm dropped their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. UBS Group lifted their target price on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Bank of America boosted their price target on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Price Performance

NASDAQ:MNST opened at $52.27 on Monday. The firm has a market capitalization of $50.83 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.57 and a beta of 0.74. 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 business has a 50 day simple moving average of $53.25 and a 200-day simple moving average of $51.03. 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.