Axxcess Wealth Management LLC Acquires 6,454 Shares of Monster Beverage Co. (NASDAQ:MNST)

Axxcess Wealth Management LLC increased its position in Monster Beverage Co. (NASDAQ:MNST) by 41.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,200 shares of the company’s stock after acquiring an additional 6,454 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Monster Beverage were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Monster Beverage in the first quarter valued at about $26,000. Stephens Consulting LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at $26,000. Kings Path Partners LLC acquired a new position in shares of Monster Beverage in the 2nd quarter valued at $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in Monster Beverage during the 2nd quarter worth about $30,000. Finally, Crewe Advisors LLC acquired a new stake in Monster Beverage in the 1st quarter valued at about $37,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on MNST shares. Roth Mkm decreased their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company boosted their price target on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Piper Sandler reduced their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” 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 twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.00.

Monster Beverage Price Performance

MNST stock opened at $55.74 on Tuesday. The company’s fifty day moving average price is $51.69 and its 200-day moving average price is $50.99. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The company has a market capitalization of $54.60 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41.

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.