Montrusco Bolton Investments Inc. Purchases Shares of 988,369 Monster Beverage Co. (NASDAQ:MNST)

Montrusco Bolton Investments Inc. purchased a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 988,369 shares of the company’s stock, valued at approximately $51,563,000. Monster Beverage makes up 0.5% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 27th biggest holding. Montrusco Bolton Investments Inc. owned about 0.10% of Monster Beverage at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MNST. Bessemer Group Inc. increased its stake in Monster Beverage by 2.4% during the 1st quarter. Bessemer Group Inc. now owns 24,664 shares of the company’s stock valued at $1,462,000 after purchasing an additional 570 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Monster Beverage by 51.8% in the first quarter. CreativeOne Wealth LLC now owns 11,089 shares of the company’s stock worth $657,000 after acquiring an additional 3,784 shares during the period. LRI Investments LLC acquired a new stake in shares of Monster Beverage in the first quarter worth $26,000. Lazard Asset Management LLC increased its stake in shares of Monster Beverage by 40.0% in the first quarter. Lazard Asset Management LLC now owns 2,189 shares of the company’s stock worth $129,000 after acquiring an additional 625 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of Monster Beverage by 4.4% in the first quarter. Mount Yale Investment Advisors LLC now owns 7,023 shares of the company’s stock worth $416,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $54.06 on Friday. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $52.74 and its 200-day moving average price is $51.07. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a market cap of $52.57 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.58 and a beta of 0.74.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MNST. Wells Fargo & Company increased their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target 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. Stifel Nicolaus raised their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Evercore ISI dropped their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup dropped their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two equities research 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’s stock. Based on data from MarketBeat.com, the stock currently 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.