Kovitz Investment Group Partners LLC Buys New Stake in Monster Beverage Co. (NASDAQ:MNST)

Kovitz Investment Group Partners LLC bought a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) during the 3rd quarter, Holdings Channel.com reports. The firm bought 12,084 shares of the company’s stock, valued at approximately $630,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MNST. Wealth Enhancement Advisory Services LLC lifted its holdings in Monster Beverage by 13.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,866 shares of the company’s stock worth $1,392,000 after buying an additional 3,214 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Monster Beverage by 2.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 74,653 shares of the company’s stock worth $3,729,000 after buying an additional 1,686 shares in the last quarter. Swedbank AB lifted its holdings in Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after buying an additional 22,823 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in Monster Beverage by 4.5% in the 2nd quarter. Portside Wealth Group LLC now owns 11,729 shares of the company’s stock worth $586,000 after buying an additional 505 shares in the last quarter. Finally, Outlook Wealth Advisors LLC acquired a new position in Monster Beverage in the 2nd quarter worth $303,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Up 1.6 %

Monster Beverage stock opened at $52.92 on Friday. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $53.33 and a two-hundred day moving average price of $51.05. The firm has a market capitalization of $51.47 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.50 and a beta of 0.74. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MNST shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Stifel Nicolaus boosted their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC assumed coverage on shares of Monster Beverage in a research report on Friday, December 6th. They issued a “hold” rating for the company. Finally, UBS Group boosted their target price on shares of Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus 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.