Ferguson Wellman Capital Management Inc. Decreases Stake in Monster Beverage Co. (NASDAQ:MNST)

Ferguson Wellman Capital Management Inc. decreased its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 452,179 shares of the company’s stock after selling 2,021 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Monster Beverage were worth $23,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MNST. LRI Investments LLC purchased a new stake in shares of Monster Beverage in the 1st quarter valued at approximately $26,000. Stephens Consulting LLC acquired a new stake in Monster Beverage during the 2nd quarter worth approximately $26,000. Kings Path Partners LLC purchased a new stake in Monster Beverage in the 2nd quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Monster Beverage in the 2nd quarter valued at about $30,000. Finally, Crewe Advisors LLC acquired a new position in Monster Beverage during the first quarter worth $37,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MNST. Truist Financial cut their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Citigroup decreased their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Argus raised their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their price target 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, Stifel Nicolaus lifted their target price on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Up 0.1 %

Shares of Monster Beverage stock traded up $0.03 on Thursday, hitting $56.41. 188,049 shares of the company traded hands, compared to its average volume of 6,940,532. The company has a market cap of $54.86 billion, a PE ratio of 36.14, a PEG ratio of 2.67 and a beta of 0.74. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The company has a 50-day moving average price of $52.18 and a 200 day moving average price of $51.06.

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.