Apollon Wealth Management LLC Sells 6,230 Shares of Monster Beverage Co. (NASDAQ:MNST)

Apollon Wealth Management LLC cut its position in Monster Beverage Co. (NASDAQ:MNST) by 31.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,429 shares of the company’s stock after selling 6,230 shares during the quarter. Apollon Wealth Management LLC’s holdings in Monster Beverage were worth $701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Journey Advisory Group LLC increased its stake in shares of Monster Beverage by 4.1% in the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after purchasing an additional 196 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Monster Beverage by 5.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after buying an additional 209 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after acquiring an additional 211 shares during the period. Crewe Advisors LLC grew its stake in shares of Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares during the last quarter. Finally, Ieq Capital LLC increased its position in Monster Beverage by 0.3% during the second quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock worth $3,433,000 after acquiring an additional 232 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 7.1 %

NASDAQ MNST opened at $52.00 on Friday. The stock’s 50 day simple moving average is $52.33 and its 200 day simple moving average is $51.09. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The firm has a market cap of $50.57 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.69 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Evercore ISI lowered their price target 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. Jefferies Financial Group reduced their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Piper Sandler decreased their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two 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, the stock has a consensus 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.