Zions Bancorporation N.A. Raises Stake in Monster Beverage Co. (NASDAQ:MNST)

Zions Bancorporation N.A. grew its holdings in Monster Beverage Co. (NASDAQ:MNST) by 10.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 64,868 shares of the company’s stock after buying an additional 6,266 shares during the period. Zions Bancorporation N.A.’s holdings in Monster Beverage were worth $3,384,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MNST. LRI Investments LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $26,000. Stephens Consulting LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at approximately $26,000. Kings Path Partners LLC acquired a new position in Monster Beverage during the 2nd quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Monster Beverage in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

MNST opened at $56.38 on Thursday. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company’s 50 day simple moving average is $52.18 and its 200 day simple moving average is $51.06. The stock has a market capitalization of $54.83 billion, a PE ratio of 36.14, a P/E/G ratio of 2.67 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.

Analyst Ratings Changes

A number of research firms have commented on MNST. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets reduced their price target on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. UBS Group raised their price objective on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus raised their price target on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.45.

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.