Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 10.7% in the third quarter, Holdings Channel.com reports. The fund owned 22,370 shares of the company’s stock after selling 2,686 shares during the period. Kingsview Wealth Management LLC’s holdings in Monster Beverage were worth $1,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MNST. LRI Investments LLC acquired a new stake in Monster Beverage in the 1st quarter valued at approximately $26,000. Stephens Consulting LLC acquired a new position in Monster Beverage during the second quarter worth $26,000. Kings Path Partners LLC purchased a new position in shares of Monster Beverage during the second quarter worth $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage in the second quarter valued at $30,000. Finally, Quarry LP raised its holdings in shares of Monster Beverage by 152.0% in the 2nd quarter. Quarry LP now owns 824 shares of the company’s stock valued at $41,000 after buying an additional 497 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

MNST stock opened at $54.83 on Wednesday. The business has a 50 day moving average price of $52.90 and a 200 day moving average price of $51.02. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock has a market cap of $53.32 billion, a price-to-earnings ratio of 35.15, 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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MNST. 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. Jefferies Financial Group lowered their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, BMO Capital Markets cut their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $56.45.

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.