Peloton Wealth Strategists Acquires 7,725 Shares of Monster Beverage Co. (NASDAQ:MNST)

Peloton Wealth Strategists boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 22.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 41,845 shares of the company’s stock after buying an additional 7,725 shares during the period. Peloton Wealth Strategists’ holdings in Monster Beverage were worth $2,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its holdings in shares of Monster Beverage by 109.3% in the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock valued at $1,176,913,000 after purchasing an additional 11,779,162 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of 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 purchasing an additional 3,620,436 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Monster Beverage by 1,148.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after acquiring an additional 2,388,798 shares during the last quarter. State Street Corp raised its holdings in shares of Monster Beverage by 6.9% in the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock valued at $1,760,341,000 after purchasing an additional 2,168,379 shares during the period. Finally, Holocene Advisors LP acquired a new stake in Monster Beverage in the 3rd quarter valued at about $73,600,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MNST. UBS Group increased their price target on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Wells Fargo & Company raised their price objective on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Trading Down 1.6 %

Shares of MNST stock opened at $52.27 on Monday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The stock has a market cap of $50.83 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.50 and a beta of 0.74. The stock has a 50-day moving average of $53.25 and a 200-day moving average of $51.03.

Monster Beverage Company 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.