Cynosure Group LLC Reduces Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Cynosure Group LLC decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,370 shares of the company’s stock after selling 376 shares during the period. Cynosure Group LLC’s holdings in Monster Beverage were worth $384,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its stake in Monster Beverage by 40.0% in the first quarter. Lazard Asset Management LLC now owns 2,189 shares of the company’s stock worth $129,000 after purchasing an additional 625 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Monster Beverage by 37.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,869 shares of the company’s stock worth $822,000 after purchasing an additional 3,767 shares during the last quarter. Tidal Investments LLC increased its stake in Monster Beverage by 52.1% in the 1st quarter. Tidal Investments LLC now owns 65,597 shares of the company’s stock worth $3,887,000 after buying an additional 22,479 shares during the period. Hancock Whitney Corp bought a new stake in Monster Beverage during the 1st quarter valued at about $225,000. Finally, LBP AM SA purchased a new stake in Monster Beverage in the 1st quarter valued at about $473,000. 72.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on MNST shares. Stifel Nicolaus lifted their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Citigroup reduced their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. UBS Group upped their target price on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Piper Sandler decreased their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company 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 thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Price Performance

MNST stock opened at $55.14 on Thursday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock has a market cap of $53.62 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. The business has a fifty day moving average of $52.96 and a two-hundred day moving average of $51.05.

Monster Beverage 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.