Fmr LLC Sells 5,086,615 Shares of Monster Beverage Co. (NASDAQ:MNST)

Fmr LLC trimmed its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,181,979 shares of the company’s stock after selling 5,086,615 shares during the period. Fmr LLC’s holdings in Monster Beverage were worth $1,157,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MNST. LRI Investments LLC purchased a new stake in shares of Monster Beverage during the 1st quarter worth $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage in the second quarter worth $26,000. Kings Path Partners LLC acquired a new stake in shares of Monster Beverage in the 2nd quarter worth $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in Monster Beverage during the 2nd quarter worth $30,000. Finally, Quarry LP boosted its holdings in Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after acquiring an additional 497 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Roth Mkm decreased their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. UBS Group lifted their price target on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Citigroup reduced their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Piper Sandler cut their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two 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. According to MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $55.14 on Thursday. The company’s 50-day moving average is $52.96 and its two-hundred day moving average is $51.05. The firm has a market capitalization of $53.62 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

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.