Pacer Advisors Inc. Reduces Position in Monster Beverage Co. (NASDAQ:MNST)

Pacer Advisors Inc. reduced its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 120,917 shares of the company’s stock after selling 233 shares during the period. Pacer Advisors Inc.’s holdings in Monster Beverage were worth $6,308,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Ninety One UK Ltd increased its position in shares of Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares during the period. Epoch Investment Partners Inc. grew its stake in Monster Beverage by 9.5% in the second quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock worth $158,546,000 after purchasing an additional 275,209 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Monster Beverage by 1,148.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after purchasing an additional 2,388,798 shares during the period. DSM Capital Partners LLC raised its position in Monster Beverage by 13.7% during the 2nd quarter. DSM Capital Partners LLC now owns 2,225,726 shares of the company’s stock valued at $111,175,000 after purchasing an additional 268,198 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Monster Beverage by 6.8% in the 3rd quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock worth $108,408,000 after buying an additional 133,080 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.1 %

Monster Beverage stock opened at $54.06 on Monday. The business’s 50-day simple moving average is $52.74 and its two-hundred day simple moving average is $51.03. 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 company has a market cap of $52.57 billion, a PE ratio of 34.65, a PEG ratio of 2.58 and a beta of 0.74. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MNST shares. UBS Group lifted their price objective on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Truist Financial lowered their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada lowered their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, BMO Capital Markets cut their price target on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average 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.