King Luther Capital Management Corp Reduces Position in Monster Beverage Co. (NASDAQ:MNST)

King Luther Capital Management Corp reduced its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,955 shares of the company’s stock after selling 448 shares during the period. King Luther Capital Management Corp’s holdings in Monster Beverage were worth $415,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Dai ichi Life Insurance Company Ltd boosted its position in shares of Monster Beverage by 2.3% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock valued at $1,192,000 after acquiring an additional 532 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Monster Beverage by 128.1% during the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after buying an additional 11,528 shares during the period. Swedbank AB grew its position in Monster Beverage by 23.1% in the second quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after acquiring an additional 22,823 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Monster Beverage by 50.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock valued at $5,013,000 after purchasing an additional 33,478 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of Monster Beverage by 6.8% during the 3rd quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock worth $108,408,000 after purchasing an additional 133,080 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MNST. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Citigroup dropped their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group cut their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, UBS Group raised their price target on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Stock Performance

Shares of MNST stock opened at $54.06 on Friday. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $51.05. The company has a market cap of $52.57 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Monster Beverage Company 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.