Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 31.0% in the 3rd quarter, Holdings Channel reports. The fund owned 23,609 shares of the company’s stock after selling 10,595 shares during the period. Commerce Bank’s holdings in Monster Beverage were worth $1,232,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. LRI Investments LLC bought a new position in Monster Beverage in the first quarter worth about $26,000. Lazard Asset Management LLC grew its position in Monster Beverage by 40.0% during the 1st quarter. Lazard Asset Management LLC now owns 2,189 shares of the company’s stock worth $129,000 after purchasing an additional 625 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in Monster Beverage by 4.4% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 7,023 shares of the company’s stock worth $416,000 after purchasing an additional 298 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in Monster Beverage by 25.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 88,949 shares of the company’s stock worth $5,273,000 after purchasing an additional 17,994 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Monster Beverage by 37.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,869 shares of the company’s stock valued at $822,000 after buying an additional 3,767 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MNST shares. Argus lifted their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Piper Sandler reduced their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group reduced their target price 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. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Bank of America increased their price objective 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Up 0.1 %

Monster Beverage stock opened at $54.06 on Monday. The company has a market cap of $52.57 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a fifty day simple moving average of $52.74 and a 200 day simple moving average of $51.03. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

Monster Beverage 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.