Kovitz Investment Group Partners LLC Invests $630,000 in Monster Beverage Co. (NASDAQ:MNST)

Kovitz Investment Group Partners LLC bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,084 shares of the company’s stock, valued at approximately $630,000.

Several other hedge funds have also made changes to their positions in the business. Journey Advisory Group LLC lifted its position in Monster Beverage by 4.1% in the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after purchasing an additional 196 shares during the period. Crossmark Global Holdings Inc. lifted its position in Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after purchasing an additional 211 shares during the period. Accretive Wealth Partners LLC lifted its position in Monster Beverage by 1.3% in 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 during the period. Crewe Advisors LLC lifted its position in Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the period. Finally, Ieq Capital LLC lifted its position in Monster Beverage by 0.3% in the second quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock valued at $3,433,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MNST shares. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Needham & Company LLC assumed coverage on shares of Monster Beverage in a report on Friday, December 6th. They issued a “hold” rating for the company. Stifel Nicolaus increased their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America increased their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Stock Up 1.6 %

MNST stock opened at $52.92 on Friday. The stock has a market capitalization 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 one year low of $43.32 and a one year high of $61.22. The company has a 50 day moving average price of $53.33 and a two-hundred day moving average price of $51.05.

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.