Kingsview Wealth Management LLC Cuts Holdings in Monster Beverage Co. (NASDAQ:MNST)

Kingsview Wealth Management LLC reduced its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,370 shares of the company’s stock after selling 2,686 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Monster Beverage were worth $1,167,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ninety One UK Ltd boosted its position in Monster Beverage by 93.9% during 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 in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Monster Beverage by 9.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock worth $158,546,000 after buying an additional 275,209 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Monster Beverage by 1,148.0% during the 3rd 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 in the last quarter. DSM Capital Partners LLC grew its stake in Monster Beverage by 13.7% in the 2nd quarter. DSM Capital Partners LLC now owns 2,225,726 shares of the company’s stock valued at $111,175,000 after acquiring an additional 268,198 shares during the period. Finally, Natixis Advisors LLC grew its stake in Monster Beverage by 6.8% in the 3rd quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock valued at $108,408,000 after acquiring an additional 133,080 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Stock Down 0.3 %

Shares of NASDAQ MNST opened at $54.83 on Wednesday. The company has a market capitalization of $53.32 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.58 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. The company has a 50 day simple moving average of $52.90 and a 200-day simple moving average of $51.02. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22.

Analysts Set New Price Targets

Several research firms have issued reports on MNST. Stifel Nicolaus increased their price objective on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen raised their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Roth Mkm cut their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Citigroup reduced their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price target on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.