Savoir Faire Capital Management L.P. Trims Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Savoir Faire Capital Management L.P. cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 49.3% during the third quarter, Holdings Channel.com reports. The firm owned 59,950 shares of the company’s stock after selling 58,198 shares during the quarter. Savoir Faire Capital Management L.P.’s holdings in Monster Beverage were worth $3,128,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Monster Beverage by 4.1% during the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock worth $664,469,000 after purchasing an additional 440,962 shares during the period. Ninety One UK Ltd increased its position in shares of Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Monster Beverage by 9.5% during the second quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock valued at $158,546,000 after acquiring an additional 275,209 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after acquiring an additional 2,388,798 shares during the last quarter. Finally, DSM Capital Partners LLC increased its position in shares of Monster Beverage by 13.7% during the second quarter. DSM Capital Partners LLC now owns 2,225,726 shares of the company’s stock valued at $111,175,000 after acquiring an additional 268,198 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted 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. Piper Sandler dropped their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Truist Financial dropped their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Jefferies Financial Group dropped their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen lifted their price objective on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $53.27 on Tuesday. The stock has a market cap of $51.81 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.48 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. The company’s 50-day moving average price is $52.45 and its 200 day moving average price is $51.04. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22.

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.