Ironwood Investment Counsel LLC Sells 650 Shares of Monster Beverage Co. (NASDAQ:MNST)

Ironwood Investment Counsel LLC lessened its stake in Monster Beverage Co. (NASDAQ:MNST) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,474 shares of the company’s stock after selling 650 shares during the period. Ironwood Investment Counsel LLC’s holdings in Monster Beverage were worth $599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNST. Journey Advisory Group LLC grew its position in shares of Monster Beverage by 4.1% during the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after buying an additional 196 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock worth $2,434,000 after acquiring an additional 211 shares during the period. Accretive Wealth Partners LLC grew its holdings in Monster Beverage by 1.3% during the 3rd quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock worth $930,000 after acquiring an additional 225 shares in the last quarter. Crewe Advisors LLC increased its position in Monster Beverage by 37.5% during the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of Monster Beverage by 0.3% in the 2nd quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock valued at $3,433,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their target price on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada cut their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Evercore ISI decreased their price objective on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company raised their price objective on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Performance

Shares of MNST stock opened at $55.13 on Friday. The business has a fifty day moving average of $53.11 and a 200 day moving average of $51.08. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The firm has a market capitalization of $53.62 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth 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.