Intech Investment Management LLC Buys 28,840 Shares of Monster Beverage Co. (NASDAQ:MNST)

Intech Investment Management LLC grew its stake in Monster Beverage Co. (NASDAQ:MNST) by 26.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,900 shares of the company’s stock after purchasing an additional 28,840 shares during the quarter. Intech Investment Management LLC’s holdings in Monster Beverage were worth $7,194,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Journey Advisory Group LLC grew its position in shares of Monster Beverage by 4.1% in the second quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock valued at $248,000 after purchasing an additional 196 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Monster Beverage by 0.4% in the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after purchasing an additional 211 shares in the last quarter. Crewe Advisors LLC grew its position in shares of Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares in the last quarter. Ieq Capital LLC grew its position in shares of Monster Beverage by 0.3% in the second quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock valued at $3,433,000 after purchasing an additional 232 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Monster Beverage by 20.6% in the third quarter. UMB Bank n.a. now owns 1,412 shares of the company’s stock valued at $74,000 after purchasing an additional 241 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.6 %

NASDAQ MNST opened at $54.00 on Friday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. 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 stock has a 50-day moving average of $52.68 and a 200-day moving average of $51.07. The firm has a market cap of $52.52 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 8th. TD Cowen boosted their target price on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Argus boosted their target price on Monster Beverage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Piper Sandler reduced their target price on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group boosted their target price on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. 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 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.