Harvest Fund Management Co. Ltd Increases Position in Monster Beverage Co. (NASDAQ:MNST)

Harvest Fund Management Co. Ltd boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 43.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,342 shares of the company’s stock after purchasing an additional 13,816 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Monster Beverage were worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in Monster Beverage in the 1st quarter valued at $26,000. Stephens Consulting LLC purchased a new stake in shares of Monster Beverage during the second quarter worth about $26,000. Kings Path Partners LLC purchased a new position in Monster Beverage in the 2nd quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Monster Beverage in the 2nd quarter worth about $30,000. Finally, Quarry LP boosted its holdings in Monster Beverage by 152.0% in the 2nd quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after buying an additional 497 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.1 %

Shares of NASDAQ MNST opened at $54.06 on Monday. The stock has a fifty day simple moving average of $52.74 and a 200-day simple moving average of $51.03. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The stock has a market capitalization of $52.57 billion, a PE ratio of 34.65, a PEG ratio of 2.58 and a beta of 0.74. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MNST shares. Wells Fargo & Company raised their target price on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial lowered their target price on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Bank of America increased their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased 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 note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

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.