PNC Financial Services Group Inc. Decreases Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

PNC Financial Services Group Inc. lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,047 shares of the company’s stock after selling 15,873 shares during the period. PNC Financial Services Group Inc.’s holdings in Monster Beverage were worth $10,958,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MNST. Journey Advisory Group LLC grew its stake in shares of Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after purchasing an additional 196 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Monster Beverage by 0.4% during the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after buying an additional 211 shares during the last quarter. Crewe Advisors LLC raised its position in 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 period. Ieq Capital LLC raised its position in Monster Beverage by 0.3% in 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. Finally, UMB Bank n.a. boosted its stake in shares of Monster Beverage by 20.6% during the 3rd quarter. UMB Bank n.a. now owns 1,412 shares of the company’s stock worth $74,000 after acquiring an additional 241 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 0.1 %

Shares of NASDAQ MNST opened at $54.06 on Friday. The business’s 50 day moving average price is $52.74 and its 200-day moving average price is $51.07. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. 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 company has a market cap of $52.57 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.57 and a beta of 0.74.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MNST. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets lowered their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Argus increased their target price on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. TD Cowen lifted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus boosted their price objective on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus 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.