Cornerstone Advisors LLC Grows Stake in Monster Beverage Co. (NASDAQ:MNST)

Cornerstone Advisors LLC grew its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 9.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 74,600 shares of the company’s stock after acquiring an additional 6,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in Monster Beverage were worth $3,892,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Dai ichi Life Insurance Company Ltd raised its position in shares of Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock worth $1,192,000 after acquiring an additional 532 shares in the last quarter. Cetera Advisors LLC grew its holdings in Monster Beverage by 128.1% during the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after purchasing an additional 11,528 shares during the period. Swedbank AB increased its stake in shares of Monster Beverage by 23.1% in the second quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after purchasing an additional 22,823 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Monster Beverage by 50.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock worth $5,013,000 after purchasing an additional 33,478 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in 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 purchasing an additional 133,080 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MNST shares. Citigroup reduced their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group cut their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial decreased their target price 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. Piper Sandler reduced their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Evercore ISI dropped their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Stock Down 0.1 %

Shares of MNST opened at $53.70 on Thursday. The stock’s 50-day moving average price is $52.60 and its two-hundred day moving average price is $51.05. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $52.22 billion, a PE ratio of 34.42, a PEG ratio of 2.57 and a beta of 0.74.

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.