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

Intech Investment Management LLC grew its holdings in Monster Beverage Co. (NASDAQ:MNST) by 26.4% in the third quarter, Holdings Channel reports. The firm owned 137,900 shares of the company’s stock after buying an additional 28,840 shares during the quarter. Intech Investment Management LLC’s holdings in Monster Beverage were worth $7,194,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Monster Beverage in the 1st quarter worth $26,000. Stephens Consulting LLC purchased a new position in shares of Monster Beverage in the 2nd quarter worth $26,000. Kings Path Partners LLC purchased a new position 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 shares of Monster Beverage in the 2nd quarter worth $30,000. Finally, Crewe Advisors LLC purchased a new position in shares of Monster Beverage in the 1st quarter worth $37,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.6 %

Shares of MNST stock opened at $54.00 on Friday. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month 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’s 50-day moving average price is $52.68 and its 200-day moving average price is $51.07. The stock has a market capitalization of $52.52 billion, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74.

Analysts Set New Price Targets

MNST has been the topic of a number of research reports. 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. Bank of America lifted their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lifted 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 Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, Stifel Nicolaus lifted their target price on Monster Beverage from $57.00 to $59.00 and gave the company a “buy” 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.