Cynosure Group LLC Lowers Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Cynosure Group LLC lessened its position in Monster Beverage Co. (NASDAQ:MNST) by 4.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,370 shares of the company’s stock after selling 376 shares during the quarter. Cynosure Group LLC’s holdings in Monster Beverage were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC increased its stake in Monster Beverage by 28.3% during the third quarter. Townsquare Capital LLC now owns 80,624 shares of the company’s stock worth $4,206,000 after purchasing an additional 17,774 shares during the period. Avestar Capital LLC grew its holdings in shares of Monster Beverage by 6.4% in the third quarter. Avestar Capital LLC now owns 5,386 shares of the company’s stock valued at $281,000 after purchasing an additional 326 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Monster Beverage by 4.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after buying an additional 1,229,789 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Monster Beverage by 43.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 45,342 shares of the company’s stock worth $2,365,000 after buying an additional 13,816 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Monster Beverage by 6.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock valued at $7,897,000 after buying an additional 9,496 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MNST. Bank of America increased their price objective on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Truist Financial decreased their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. UBS Group boosted their price objective on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada lowered their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $55.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The company has a 50-day simple moving average of $52.96 and a 200-day simple moving average of $51.05. The stock has a market capitalization of $53.62 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.63 and a beta of 0.74.

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.