Algert Global LLC Purchases 77,886 Shares of Monster Beverage Co. (NASDAQ:MNST)

Algert Global LLC grew its position in Monster Beverage Co. (NASDAQ:MNST) by 1,660.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,576 shares of the company’s stock after purchasing an additional 77,886 shares during the quarter. Algert Global LLC’s holdings in Monster Beverage were worth $4,308,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Ninety One UK Ltd grew its stake in Monster Beverage by 93.9% during 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. boosted 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after acquiring an additional 2,388,798 shares during the last quarter. DSM Capital Partners LLC increased 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 in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Monster Beverage by 6.8% in the 3rd quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock valued at $108,408,000 after purchasing an additional 133,080 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Argus boosted their target price on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group decreased their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup reduced their price target on 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Up 0.1 %

MNST opened at $54.06 on Monday. The company has a market cap of $52.57 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a 50-day moving average price of $52.74 and a 200 day moving average price of $51.03. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

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.