Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Monster Beverage Co. (NASDAQ:MNST) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 714,193 shares of the company’s stock after selling 37,567 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Monster Beverage worth $37,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in Monster Beverage in the 1st quarter valued at about $26,000. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage during the second quarter worth approximately $26,000. Kings Path Partners LLC acquired a new stake in Monster Beverage in the second quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in Monster Beverage in the second quarter worth approximately $30,000. Finally, Crewe Advisors LLC acquired a new position in Monster Beverage during the 1st quarter worth approximately $37,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $52.00 on Friday. The stock has a fifty day moving average price of $52.40 and a 200 day moving average price of $51.08. 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 market cap of $50.57 billion, a PE ratio of 33.33, a P/E/G ratio of 2.69 and a beta of 0.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MNST. Roth Mkm reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. TD Cowen upped their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. 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 report on Tuesday, November 5th. Finally, Truist Financial lowered their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Company 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.