Peapack Gladstone Financial Corp lifted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) by 22.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,064 shares of the company’s stock after buying an additional 1,131 shares during the period. Peapack Gladstone Financial Corp’s holdings in Monster Beverage were worth $316,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MNST. Janus Henderson Group PLC grew its stake in shares of Monster Beverage by 109.3% in the third quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company’s stock worth $1,176,913,000 after purchasing an additional 11,779,162 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Monster Beverage by 1,148.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares in the last quarter. State Street Corp boosted its position in shares of Monster Beverage by 6.9% in the third quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after buying an additional 2,168,379 shares during the period. Holocene Advisors LP purchased a new position in shares of Monster Beverage during the third quarter valued at $73,600,000. Finally, Loomis Sayles & Co. L P raised its position in Monster Beverage by 4.7% during the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after buying an additional 1,229,789 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.
Wall Street Analyst Weigh In
MNST has been the subject of a number of research reports. UBS Group raised their price objective on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price 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. Argus boosted their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.45.
Monster Beverage Trading Down 1.0 %
Shares of MNST stock opened at $52.25 on Tuesday. The firm has a market capitalization of $50.81 billion, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The firm’s fifty day simple moving average is $53.47 and its 200 day simple moving average is $51.06. The company has a current ratio of 3.13, a quick ratio of 2.51 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.
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