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

Kentucky Retirement Systems reduced its position in Monster Beverage Co. (NASDAQ:MNST) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 49,133 shares of the company’s stock after selling 4,316 shares during the quarter. Kentucky Retirement Systems’ holdings in Monster Beverage were worth $2,563,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MNST. LRI Investments LLC purchased a new position in Monster Beverage during the first quarter worth about $26,000. Stephens Consulting LLC acquired a new position in Monster Beverage during the 2nd quarter worth approximately $26,000. Kings Path Partners LLC purchased a new position in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $30,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MNST shares. Royal Bank of Canada reduced 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. Deutsche Bank Aktiengesellschaft lowered 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 report on Friday, November 8th. Roth Mkm reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Citigroup lowered their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial reduced their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Down 7.1 %

Shares of NASDAQ MNST opened at $52.00 on Monday. The firm’s 50 day moving average price is $52.40 and its 200 day moving average price is $51.04. 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 firm has a market cap of $50.57 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 2.48 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.

About Monster Beverage

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.