PNC Financial Services Group Inc. Sells 15,873 Shares of Monster Beverage Co. (NASDAQ:MNST)

PNC Financial Services Group Inc. cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ninety One UK Ltd grew its holdings in Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after buying an additional 2,388,798 shares during the period. AMF Tjanstepension AB bought a new position in Monster Beverage in the second quarter worth approximately $81,757,000. Public Sector Pension Investment Board lifted its holdings in Monster Beverage by 9,260.6% during the second quarter. Public Sector Pension Investment Board now owns 1,041,275 shares of the company’s stock worth $52,012,000 after buying an additional 1,030,151 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of Monster Beverage by 151.3% in the 2nd quarter. National Bank of Canada FI now owns 1,270,004 shares of the company’s stock valued at $63,371,000 after acquiring an additional 764,632 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.1 %

Monster Beverage stock 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. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a market cap of $52.57 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22.

Analyst Ratings Changes

A number of equities analysts have commented on MNST shares. BMO Capital Markets reduced their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus upped 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. Truist Financial decreased their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, 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. Two 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’s stock. According to data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $56.45.

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.