Massachusetts Financial Services Co. MA Cuts Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Massachusetts Financial Services Co. MA trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 578,763 shares of the company’s stock after selling 23,120 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of Monster Beverage worth $30,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Monster Beverage during the 1st quarter worth $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage during the 2nd quarter worth $26,000. Kings Path Partners LLC bought a new stake in shares of Monster Beverage during the 2nd quarter worth $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Monster Beverage during the 2nd quarter worth $30,000. Finally, Quarry LP raised its stake in shares of Monster Beverage by 152.0% during the 2nd quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after purchasing an additional 497 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MNST has been the topic of a number of recent analyst reports. Roth Mkm lowered their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus lifted their target price on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets lowered their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group lowered their target price on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI lowered their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Up 1.7 %

NASDAQ MNST opened at $54.98 on Tuesday. The stock’s 50-day moving average price is $52.83 and its 200-day moving average price is $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. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a market capitalization of $53.47 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74.

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.