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

Massachusetts Financial Services Co. MA decreased its stake in Monster Beverage Co. (NASDAQ:MNST) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 578,763 shares of the company’s stock after selling 23,120 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Monster Beverage were worth $30,194,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of analysts have weighed in on MNST shares. Truist Financial reduced their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Citigroup cut their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Roth Mkm cut their price target 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. Finally, UBS Group raised their price target on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Trading 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 market capitalization of $53.47 billion, a PE ratio of 35.24, a P/E/G ratio of 2.58 and a beta of 0.74. 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.

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.