Arbejdsmarkedets Tillaegspension acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 316,147 shares of the company’s stock, valued at approximately $24,239,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Monster Beverage by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company’s stock worth $5,212,080,000 after purchasing an additional 497,108 shares in the last quarter. State Street Corp increased its holdings in shares of Monster Beverage by 8.0% in the 3rd quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after buying an additional 2,789,273 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Monster Beverage by 6.3% in the 3rd quarter. Invesco Ltd. now owns 11,675,603 shares of the company’s stock worth $785,885,000 after buying an additional 692,192 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Monster Beverage by 12.2% in the 3rd quarter. Schroder Investment Management Group now owns 8,175,683 shares of the company’s stock worth $547,444,000 after buying an additional 891,804 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Monster Beverage by 1.2% in the 3rd quarter. Northern Trust Corp now owns 7,867,341 shares of the company’s stock worth $529,551,000 after buying an additional 95,919 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.
Monster Beverage Stock Performance
NASDAQ:MNST opened at $85.82 on Friday. The firm has a market cap of $83.93 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.83 and a beta of 0.50. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $88.77. The business has a 50 day moving average price of $76.38 and a 200-day moving average price of $76.52.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MNST. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada upped their target price on Monster Beverage from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Rothschild & Co Redburn raised Monster Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $90.00 in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus cut their target price on Monster Beverage from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.37.
Read Our Latest Stock Report on MNST
Monster Beverage Profile
Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.
Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.
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