BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 12.8% during the third quarter, HoldingsChannel reports. The firm owned 123,319 shares of the company’s stock after selling 18,086 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Monster Beverage were worth $6,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Stephens Consulting LLC bought a new position in shares of Monster Beverage in the 2nd quarter worth $26,000. Kings Path Partners LLC purchased a new position in Monster Beverage in the second quarter worth $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in Monster Beverage in the second quarter worth $30,000. Quarry LP increased its stake in Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock valued at $41,000 after acquiring an additional 497 shares during the last quarter. Finally, Crewe Advisors LLC raised its position in Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of MNST stock opened at $54.98 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm has a market cap of $53.47 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.63 and a beta of 0.74. The business’s 50 day moving average price is $53.11 and its 200-day moving average price is $51.03. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of research reports. BMO Capital Markets cut their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Piper Sandler reduced their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. UBS Group boosted their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Citigroup cut their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial decreased their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.