STF Management LP Sells 1,304 Shares of Monster Beverage Co. (NASDAQ:MNST)

STF Management LP cut its position in Monster Beverage Co. (NASDAQ:MNST) by 7.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,147 shares of the company’s stock after selling 1,304 shares during the quarter. STF Management LP’s holdings in Monster Beverage were worth $790,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ninety One UK Ltd lifted its holdings in shares of Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB purchased a new position in shares of Monster Beverage in the 2nd quarter worth about $81,757,000. Public Sector Pension Investment Board increased its position in shares of Monster Beverage by 9,260.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,041,275 shares of the company’s stock valued at $52,012,000 after purchasing an additional 1,030,151 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Monster Beverage by 37.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,898,894 shares of the company’s stock valued at $171,846,000 after buying an additional 784,606 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Trading Up 0.6 %

Shares of NASDAQ MNST opened at $54.00 on Friday. The company has a market cap of $52.52 billion, a PE ratio of 34.62, a P/E/G ratio of 2.57 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 firm’s 50 day moving average price is $52.68 and its 200-day moving average price is $51.07. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22.

Analyst Ratings Changes

A number of research analysts have commented on MNST shares. Roth Mkm reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus lifted their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Argus upped their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.