The Manufacturers Life Insurance Company Has $22.35 Million Position in Monster Beverage Co. (NASDAQ:MNST)

The Manufacturers Life Insurance Company trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 428,431 shares of the company’s stock after selling 3,434 shares during the period. The Manufacturers Life Insurance Company’s holdings in Monster Beverage were worth $22,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ninety One UK Ltd raised its holdings in Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after purchasing an additional 3,620,436 shares during the period. Assenagon Asset Management S.A. raised its stake in Monster Beverage by 1,148.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock worth $135,480,000 after buying an additional 2,388,798 shares during the period. AMF Tjanstepension AB acquired a new position in Monster Beverage in the second quarter valued at about $81,757,000. Loomis Sayles & Co. L P increased its holdings in shares of Monster Beverage by 4.7% in the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after acquiring an additional 1,229,789 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Monster Beverage by 9,260.6% during the second quarter. Public Sector Pension Investment Board now owns 1,041,275 shares of the company’s stock worth $52,012,000 after purchasing an additional 1,030,151 shares during the period. Institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler dropped their price objective 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. Royal Bank of Canada reduced their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group dropped their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Roth Mkm reduced their price objective on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Trading Down 0.0 %

Shares of NASDAQ:MNST opened at $55.13 on Friday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-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 company has a market capitalization of $53.62 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. The company has a 50-day simple moving average of $53.11 and a 200 day simple moving average of $51.06.

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.