Pitcairn Co. Sells 2,246 Shares of Monster Beverage Co. (NASDAQ:MNST)

Pitcairn Co. cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,898 shares of the company’s stock after selling 2,246 shares during the quarter. Pitcairn Co.’s holdings in Monster Beverage were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNST. Algert Global LLC lifted its position in Monster Beverage by 1,660.7% during the third quarter. Algert Global LLC now owns 82,576 shares of the company’s stock valued at $4,308,000 after buying an additional 77,886 shares during the period. Great Valley Advisor Group Inc. grew its position in Monster Beverage by 1.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,642 shares of the company’s stock valued at $764,000 after purchasing an additional 262 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in Monster Beverage during the 3rd quarter valued at about $51,563,000. Accretive Wealth Partners LLC raised its holdings in Monster Beverage by 1.3% in the third quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock worth $930,000 after buying an additional 225 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of Monster Beverage by 8.9% in the third quarter. Raymond James Trust N.A. now owns 19,263 shares of the company’s stock worth $1,005,000 after buying an additional 1,568 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the subject of several analyst reports. Roth Mkm reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. BMO Capital Markets decreased their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group lowered their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company boosted their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, TD Cowen raised their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $54.98 on Tuesday. The stock has a 50-day simple moving average of $52.83 and a two-hundred day simple moving average of $51.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The firm has a market capitalization of $53.47 billion, a PE ratio of 35.24, a P/E/G ratio of 2.58 and a beta of 0.74.

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.