Franklin Resources Inc. Sells 321,725 Shares of Monster Beverage Co. (NASDAQ:MNST)

Franklin Resources Inc. lowered its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,091,090 shares of the company’s stock after selling 321,725 shares during the quarter. Franklin Resources Inc.’s holdings in Monster Beverage were worth $314,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MNST. Journey Advisory Group LLC raised its position in Monster Beverage by 4.1% in the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after purchasing an additional 196 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Monster Beverage by 0.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after acquiring an additional 211 shares during the last quarter. Accretive Wealth Partners LLC boosted its holdings in Monster Beverage by 1.3% during the 3rd quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock valued at $930,000 after acquiring an additional 225 shares during the period. Crewe Advisors LLC boosted its holdings in Monster Beverage by 37.5% during the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after acquiring an additional 232 shares during the period. Finally, Ieq Capital LLC grew its position in Monster Beverage by 0.3% during the 2nd quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock worth $3,433,000 after acquiring an additional 232 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of analyst reports. Argus increased their price objective on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. UBS Group raised their price target 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. JPMorgan Chase & Co. lowered their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus upped 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Down 0.3 %

Shares of Monster Beverage stock opened at $52.76 on Friday. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The company has a 50-day moving average of $53.41 and a 200 day moving average of $51.06. The firm has a market cap of $51.31 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.49 and a beta of 0.74.

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.