Prospera Private Wealth LLC Acquires New Holdings in Monster Beverage Co. (NASDAQ:MNST)

Prospera Private Wealth LLC acquired a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,073 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds also recently bought and sold shares of MNST. Ninety One UK Ltd grew its stake in Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares in the last quarter. Assenagon Asset Management S.A. grew 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 valued at $135,480,000 after acquiring an additional 2,388,798 shares in the last quarter. AMF Tjanstepension AB purchased a new position in Monster Beverage during the second quarter valued at approximately $81,757,000. Public Sector Pension Investment Board grew its stake in Monster Beverage by 9,260.6% during the second quarter. Public Sector Pension Investment Board now owns 1,041,275 shares of the company’s stock valued at $52,012,000 after acquiring an additional 1,030,151 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in Monster Beverage by 37.1% during the first quarter. Epoch Investment Partners Inc. now owns 2,898,894 shares of the company’s stock valued at $171,846,000 after acquiring an additional 784,606 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $53.70 on Thursday. 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 Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market capitalization of $52.22 billion, a P/E ratio of 34.42, a P/E/G ratio of 2.48 and a beta of 0.74. The firm’s 50 day simple moving average is $52.60 and its two-hundred day simple moving average is $51.05.

Analyst Ratings Changes

A number of equities analysts have commented on MNST shares. Piper Sandler cut their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Citigroup cut 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 note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

About Monster Beverage

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.