Hartford Funds Management Co LLC Raises Holdings in Monster Beverage Co. (NASDAQ:MNST)

Hartford Funds Management Co LLC grew its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 15.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,727 shares of the company’s stock after buying an additional 924 shares during the period. Hartford Funds Management Co LLC’s holdings in Monster Beverage were worth $351,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in Monster Beverage during the 1st quarter worth about $26,000. Stephens Consulting LLC purchased a new stake in Monster Beverage during the 2nd quarter worth about $26,000. Kings Path Partners LLC purchased a new stake in Monster Beverage during the 2nd quarter worth about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Monster Beverage during the 2nd quarter worth about $30,000. Finally, Quarry LP lifted its holdings in Monster Beverage by 152.0% during the 2nd quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after purchasing an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MNST shares. Truist Financial dropped their price objective on Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler decreased their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Performance

Shares of MNST stock opened at $54.06 on Friday. The company has a market capitalization of $52.57 billion, a P/E ratio of 34.65, a PEG ratio of 2.58 and a beta of 0.74. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week 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 stock has a 50 day moving average price of $52.74 and a two-hundred day moving average price of $51.05.

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.