William Allan Corp Acquires New Stake in Monster Beverage Co. (NASDAQ:MNST)

William Allan Corp acquired a new stake in Monster Beverage Co. (NASDAQ:MNST) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,119 shares of the company’s stock, valued at approximately $1,206,000.

A number of other large investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its stake in shares of Monster Beverage by 4.7% during the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after acquiring an additional 1,229,789 shares during the period. Ninety One UK Ltd increased its position in Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after purchasing an additional 3,620,436 shares during the period. Epoch Investment Partners Inc. raised its stake in shares of Monster Beverage by 9.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock worth $158,546,000 after buying an additional 275,209 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after buying an additional 2,388,798 shares during the period. Finally, DSM Capital Partners LLC boosted its stake in shares of Monster Beverage by 13.7% in the second quarter. DSM Capital Partners LLC now owns 2,225,726 shares of the company’s stock valued at $111,175,000 after buying an additional 268,198 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

MNST opened at $55.14 on Friday. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year 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. The company’s 50 day simple moving average is $53.03 and its 200 day simple moving average is $51.08. The stock has a market capitalization of $53.62 billion, a PE ratio of 35.35, a P/E/G ratio of 2.63 and a beta of 0.74.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup reduced their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Piper Sandler reduced their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced 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 report on Friday, November 8th. Finally, TD Cowen boosted their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.