Assenagon Asset Management S.A. raised its position in Monster Beverage Co. (NASDAQ:MNST – Free Report) by 1,148.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,596,888 shares of the company’s stock after buying an additional 2,388,798 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.25% of Monster Beverage worth $135,480,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in Monster Beverage in the first quarter valued at $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage during the 2nd quarter valued at approximately $26,000. Kings Path Partners LLC acquired a new position in Monster Beverage in the second quarter worth about $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage during the second quarter worth $30,000. Finally, Crewe Advisors LLC bought a new stake in shares of Monster Beverage in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 72.36% of the company’s stock.
Monster Beverage Price Performance
Shares of NASDAQ:MNST traded down $0.05 on Thursday, hitting $53.51. The company’s stock had a trading volume of 1,723,456 shares, compared to its average volume of 6,981,063. The company has a market capitalization of $55.74 billion, a PE ratio of 33.69, a PEG ratio of 2.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The company has a 50-day simple moving average of $50.13 and a 200 day simple moving average of $51.09. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on MNST shares. BMO Capital Markets dropped their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Piper Sandler lowered their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group increased their price objective on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group reduced their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.68.
Read Our Latest Report on MNST
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.
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