FORA Capital LLC Purchases New Stake in Monster Beverage Co. (NASDAQ:MNST)

by · The Markets Daily

FORA Capital LLC bought a new position in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) during the 3rd quarter, Holdings Channel reports. The fund bought 115,320 shares of the company’s stock, valued at approximately $6,016,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Loomis Sayles & Co. L P boosted its holdings in Monster Beverage by 4.7% during the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after buying an additional 1,229,789 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the period. Epoch Investment Partners Inc. boosted 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 acquiring an additional 275,209 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after acquiring an additional 2,388,798 shares during the period. Finally, DSM Capital Partners LLC increased 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 purchasing an additional 268,198 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.5 %

NASDAQ:MNST traded up $0.27 during mid-day trading on Wednesday, reaching $55.10. The company’s stock had a trading volume of 182,487 shares, compared to its average volume of 6,898,161. 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 stock has a market cap of $53.59 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.63 and a beta of 0.74. The company’s fifty day simple moving average is $52.90 and its two-hundred day simple moving average is $51.02. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. UBS Group increased their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Bank of America raised their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. TD Cowen upped 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, BMO Capital Markets dropped their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.45.

Read Our Latest Stock Analysis on Monster Beverage

Monster Beverage Profile

(Free Report)

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.

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