Bridgewater Associates LP Has $28.24 Million Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Bridgewater Associates LP decreased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 541,346 shares of the company’s stock after selling 257,962 shares during the quarter. Bridgewater Associates LP owned about 0.06% of Monster Beverage worth $28,242,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MNST. Townsquare Capital LLC lifted its holdings in shares of Monster Beverage by 28.3% during the 3rd quarter. Townsquare Capital LLC now owns 80,624 shares of the company’s stock worth $4,206,000 after acquiring an additional 17,774 shares during the period. Avestar Capital LLC boosted its holdings in shares of Monster Beverage by 6.4% in the 3rd quarter. Avestar Capital LLC now owns 5,386 shares of the company’s stock worth $281,000 after acquiring an additional 326 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Monster Beverage by 4.7% during the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after purchasing an additional 1,229,789 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Monster Beverage by 43.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 45,342 shares of the company’s stock worth $2,365,000 after acquiring an additional 13,816 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Monster Beverage by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock valued at $7,897,000 after purchasing an additional 9,496 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Roth Mkm lowered their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Evercore ISI dropped their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective 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. Royal Bank of Canada reduced their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group increased their price target on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Stock Performance

MNST opened at $55.14 on Thursday. The firm has a market cap of $53.62 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. 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 business’s fifty day moving average is $52.96 and its 200-day moving average is $51.05.

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.