Monster Beverage Co. (NASDAQ:MNST) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in Monster Beverage Co. (NASDAQ:MNST) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,642 shares of the company’s stock after selling 8,478 shares during the period. MetLife Investment Management LLC’s holdings in Monster Beverage were worth $10,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MNST. CreativeOne Wealth LLC boosted its stake in Monster Beverage by 11.5% during the third quarter. CreativeOne Wealth LLC now owns 11,621 shares of the company’s stock worth $606,000 after buying an additional 1,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Monster Beverage by 77.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 186,210 shares of the company’s stock worth $9,715,000 after acquiring an additional 81,353 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Monster Beverage by 28.3% during the 3rd quarter. Townsquare Capital LLC now owns 80,624 shares of the company’s stock worth $4,206,000 after purchasing an additional 17,774 shares during the period. Avestar Capital LLC increased its holdings in Monster Beverage by 6.4% in the 3rd quarter. Avestar Capital LLC now owns 5,386 shares of the company’s stock valued at $281,000 after purchasing an additional 326 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Monster Beverage by 4.7% in the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after purchasing an additional 1,229,789 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $55.14 on Friday. The stock has a market capitalization of $53.62 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.63 and a beta of 0.74. The firm’s fifty day simple moving average is $53.03 and its 200-day simple moving average is $51.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MNST. Truist Financial dropped their price objective 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. 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. Royal Bank of Canada lowered their price objective 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. Argus upped their target price on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus raised their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.