Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in Monster Beverage Co. (NASDAQ:MNST) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,133 shares of the company’s stock after selling 4,316 shares during the period. Kentucky Retirement Systems’ holdings in Monster Beverage were worth $2,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MNST. Dai ichi Life Insurance Company Ltd boosted its stake in Monster Beverage by 2.3% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock worth $1,192,000 after buying an additional 532 shares during the period. Cetera Advisors LLC increased its holdings in Monster Beverage by 128.1% in the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after purchasing an additional 11,528 shares during the last quarter. Swedbank AB raised its position in Monster Beverage by 23.1% in the second quarter. Swedbank AB now owns 121,731 shares of the company’s stock valued at $6,080,000 after purchasing an additional 22,823 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Monster Beverage by 50.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock worth $5,013,000 after purchasing an additional 33,478 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in shares of Monster Beverage by 31.3% in the third quarter. Arkadios Wealth Advisors now owns 41,237 shares of the company’s stock valued at $2,151,000 after buying an additional 9,820 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $52.00 on Monday. The stock has a market capitalization of $50.57 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.48 and a beta of 0.74. The firm’s fifty day simple moving average is $52.40 and its 200-day simple moving average is $51.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MNST shares. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. TD Cowen lifted their price objective 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. Citigroup reduced their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group lifted their price target on shares of Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.