The Manufacturers Life Insurance Company Has $22.35 Million Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

The Manufacturers Life Insurance Company lowered its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 428,431 shares of the company’s stock after selling 3,434 shares during the period. The Manufacturers Life Insurance Company’s holdings in Monster Beverage were worth $22,351,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MNST. Journey Advisory Group LLC lifted its holdings in shares of Monster Beverage by 4.1% during the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after buying an additional 196 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Monster Beverage by 0.4% in the 2nd 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 in the last quarter. Accretive Wealth Partners LLC boosted its holdings in Monster Beverage by 1.3% in the 3rd quarter. Accretive Wealth Partners LLC now owns 17,821 shares of the company’s stock valued at $930,000 after purchasing an additional 225 shares during the period. Crewe Advisors LLC grew 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 worth $42,000 after purchasing an additional 232 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in shares of Monster Beverage by 0.3% during the second quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock worth $3,433,000 after purchasing an additional 232 shares during the period. 72.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Argus raised their price target on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI cut their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, 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 report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Stock Down 0.0 %

Shares of NASDAQ MNST opened at $55.13 on Friday. The company has a 50 day simple moving average of $53.11 and a 200 day simple moving average of $51.06. 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 firm has a market cap of $53.62 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

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.