Harmony Asset Management LLC Sells 6,325 Shares of Monster Beverage Co. (NASDAQ:MNST)

Harmony Asset Management LLC decreased its position in Monster Beverage Co. (NASDAQ:MNST) by 54.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,363 shares of the company’s stock after selling 6,325 shares during the quarter. Harmony Asset Management LLC’s holdings in Monster Beverage were worth $280,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd raised its holdings in Monster Beverage by 2.3% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock worth $1,192,000 after purchasing an additional 532 shares in the last quarter. Cetera Advisors LLC raised its holdings in Monster Beverage by 128.1% in the first quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock worth $1,217,000 after purchasing an additional 11,528 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Monster Beverage by 6.7% in the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after purchasing an additional 9,496 shares in the last quarter. Swedbank AB raised its holdings 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 purchasing an additional 22,823 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Monster Beverage by 6.8% during the third quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock valued at $108,408,000 after acquiring an additional 133,080 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. UBS Group raised their price target on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company raised their price target on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Truist Financial reduced their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Finally, Argus raised their price target on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Trading Down 1.4 %

Shares of NASDAQ:MNST opened at $54.19 on Wednesday. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 2.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The stock’s 50-day simple moving average is $53.19 and its two-hundred day simple moving average is $51.04. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week 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.