Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 97.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,275 shares of the company’s stock after selling 1,015,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Monster Beverage were worth $1,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MNST. Stephens Consulting LLC acquired a new position in shares of Monster Beverage in the 2nd quarter valued at $26,000. Kings Path Partners LLC acquired a new position in shares of Monster Beverage in the second quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Monster Beverage in the second quarter worth about $30,000. Quarry LP lifted its holdings in shares of Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after purchasing an additional 497 shares during the period. Finally, Crewe Advisors LLC lifted its holdings in shares of Monster Beverage by 37.5% during the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.6 %

Shares of NASDAQ MNST opened at $52.27 on Friday. The firm has a market cap of $50.83 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The company’s 50-day simple moving average is $53.26 and its 200-day simple moving average is $51.07. 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MNST. UBS Group raised their price target on shares of Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. TD Cowen raised their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Truist Financial lowered their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus increased their price target on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.45.

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.