Fmr LLC Trims Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Fmr LLC decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 18.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,181,979 shares of the company’s stock after selling 5,086,615 shares during the quarter. Fmr LLC owned 2.28% of Monster Beverage worth $1,157,234,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. 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 valued at $248,000 after acquiring an additional 196 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of 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 purchasing an additional 211 shares during the period. Accretive Wealth Partners LLC increased its stake in shares of Monster Beverage by 1.3% in the third quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock worth $930,000 after purchasing an additional 225 shares in the last quarter. Crewe Advisors LLC raised its position in shares of 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 lifted its stake in shares of Monster Beverage by 0.3% during the 2nd quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock valued at $3,433,000 after buying an additional 232 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MNST shares. BMO Capital Markets cut their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. TD Cowen boosted their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. 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. Citigroup dropped their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus upped their price objective on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Price Performance

Shares of MNST stock opened at $55.14 on Thursday. The company has a market capitalization of $53.62 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.63 and a beta of 0.74. The company’s 50-day simple moving average is $52.96 and its two-hundred day simple moving average is $51.05. Monster Beverage Co. has a one year low of $43.32 and a one 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.

Monster Beverage Company 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.