Brooklyn Investment Group Sells 632 Shares of Monster Beverage Co. (NASDAQ:MNST)

Brooklyn Investment Group cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,511 shares of the company’s stock after selling 632 shares during the quarter. Brooklyn Investment Group’s holdings in Monster Beverage were worth $183,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MNST. Loomis Sayles & Co. L P grew its position in shares of Monster Beverage by 4.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after acquiring an additional 1,229,789 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in Monster Beverage by 43.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 45,342 shares of the company’s stock worth $2,365,000 after purchasing an additional 13,816 shares during the period. Daiwa Securities Group Inc. increased its position in Monster Beverage by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock worth $7,897,000 after buying an additional 9,496 shares during the last quarter. Hartford Funds Management Co LLC increased its position in Monster Beverage by 15.9% during the third quarter. Hartford Funds Management Co LLC now owns 6,727 shares of the company’s stock worth $351,000 after buying an additional 924 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in Monster Beverage by 51.3% in the third quarter. Summit Trail Advisors LLC now owns 14,764 shares of the company’s stock valued at $770,000 after buying an additional 5,003 shares during the period. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Down 0.3 %

Shares of NASDAQ MNST opened at $54.83 on Wednesday. The stock has a market capitalization of $53.32 billion, a P/E ratio of 35.15, a PEG ratio of 2.63 and a beta of 0.74. The stock’s fifty day moving average is $52.90 and its 200 day moving average is $51.02. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Wall Street Analysts Forecast Growth

MNST has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Truist Financial decreased their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group dropped their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reduced their target price 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. Finally, Bank of America increased their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. 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 company. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

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.