United Capital Financial Advisers LLC lifted its stake in Monster Beverage Co. (NASDAQ:MNST) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,346 shares of the company’s stock after acquiring an additional 1,106 shares during the period. United Capital Financial Advisers LLC’s holdings in Monster Beverage were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter worth approximately $28,000. Key Financial Inc lifted its stake in Monster Beverage by 31.2% during the second quarter. Key Financial Inc now owns 551 shares of the company’s stock valued at $52,000 after purchasing an additional 131 shares during the last quarter. Freedman Financial Associates Inc. acquired a new stake in Monster Beverage during the second quarter valued at approximately $61,000. Deseret Mutual Benefit Administrators acquired a new stake in Monster Beverage during the second quarter valued at approximately $79,000. Finally, Newfound Research LLC lifted its stake in Monster Beverage by 26.3% during the second quarter. Newfound Research LLC now owns 922 shares of the company’s stock valued at $84,000 after purchasing an additional 192 shares during the last quarter. 63.24% of the stock is owned by institutional investors.
Monster Beverage stock opened at $84.93 on Thursday. The firm has a market cap of $44.92 billion, a PE ratio of 29.59, a P/E/G ratio of 2.48 and a beta of 1.11. The firm’s 50 day moving average price is $93.75 and its two-hundred day moving average price is $93.67. Monster Beverage Co. has a twelve month low of $75.45 and a twelve month high of $99.89.
Several research firms recently commented on MNST. Jefferies Financial Group lowered shares of Monster Beverage from a “buy” rating to a “hold” rating and cut their target price for the company from $113.00 to $92.00 in a research note on Wednesday, October 13th. Stifel Nicolaus reissued a “buy” rating and set a $107.00 target price on shares of Monster Beverage in a research note on Friday, July 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Monster Beverage from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Wells Fargo & Company cut their price target on shares of Monster Beverage from $105.00 to $101.00 and set an “overweight” rating on the stock in a report on Thursday, October 14th. Finally, Citigroup upgraded shares of Monster Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $97.00 to $110.00 in a report on Friday, July 23rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $105.27.
In other Monster Beverage news, insider Emelie Tirre sold 42,000 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $98.24, for a total value of $4,126,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.40% of the company’s stock.
About Monster Beverage
Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
Further Reading: Earnings Reports
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