Victory Capital Management Inc. Cuts Holdings in Monster Beverage Co. (NASDAQ:MNST)

Victory Capital Management Inc. cut its holdings in Monster Beverage Co. (NASDAQ:MNST) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 714,193 shares of the company’s stock after selling 37,567 shares during the quarter. Victory Capital Management Inc.’s holdings in Monster Beverage were worth $37,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Journey Advisory Group LLC raised its holdings in Monster Beverage by 4.1% during the second 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 last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of Monster Beverage by 5.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock valued at $256,000 after purchasing an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Monster Beverage by 0.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after purchasing an additional 211 shares during the last quarter. Crewe Advisors LLC lifted its stake in Monster Beverage by 37.5% in the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after buying an additional 232 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Monster Beverage by 0.3% during the 2nd quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock valued at $3,433,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target 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. Stifel Nicolaus boosted 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. Bank of America boosted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada lowered their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $52.00 on Friday. 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. The firm has a 50-day simple moving average of $52.40 and a 200 day simple moving average of $51.08. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

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.