MML Investors Services LLC Increases Position in Monster Beverage Co. (NASDAQ:MNST)

MML Investors Services LLC increased its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.1% during the third quarter, Holdings Channel reports. The institutional investor owned 182,134 shares of the company’s stock after acquiring an additional 13,649 shares during the period. MML Investors Services LLC’s holdings in Monster Beverage were worth $9,502,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Goldstream Capital Management Ltd acquired a new stake in shares of Monster Beverage in the 3rd quarter worth approximately $487,000. Kovitz Investment Group Partners LLC acquired a new stake in Monster Beverage in the third quarter valued at $630,000. Wellington Management Group LLP increased its position in shares of Monster Beverage by 18.1% in the third quarter. Wellington Management Group LLP now owns 3,898,127 shares of the company’s stock valued at $203,365,000 after buying an additional 596,078 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Monster Beverage in the third quarter valued at $4,285,000. Finally, State Street Corp raised its stake in shares of Monster Beverage by 6.9% during the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company’s stock worth $1,760,341,000 after buying an additional 2,168,379 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Trading Down 0.4 %

NASDAQ MNST opened at $53.01 on Wednesday. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The company’s 50 day moving average price is $53.27 and its 200 day moving average price is $51.04. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.50 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.

Wall Street Analyst Weigh In

MNST has been the subject of several recent research reports. Needham & Company LLC initiated coverage on shares of Monster Beverage in a report on Friday, December 6th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. TD Cowen upped their target price on Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus raised their price target on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price target on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage 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.