Raymond James Trust N.A. Acquires 1,568 Shares of Monster Beverage Co. (NASDAQ:MNST)

Raymond James Trust N.A. boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,263 shares of the company’s stock after purchasing an additional 1,568 shares during the quarter. Raymond James Trust N.A.’s holdings in Monster Beverage were worth $1,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd raised its stake in Monster Beverage by 2.3% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock valued at $1,192,000 after purchasing an additional 532 shares during the period. Cetera Advisors LLC raised its stake in Monster Beverage by 128.1% during the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after purchasing an additional 11,528 shares during the period. Swedbank AB increased its stake in Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after acquiring an additional 22,823 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Monster Beverage by 50.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock worth $5,013,000 after acquiring an additional 33,478 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in Monster Beverage by 6.8% in the 3rd quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock worth $108,408,000 after acquiring an additional 133,080 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Piper Sandler reduced their price objective on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets reduced their price objective on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company boosted 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.45.

Monster Beverage Price Performance

MNST opened at $54.06 on Monday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The stock has a market cap of $52.57 billion, a P/E ratio of 34.65, a PEG ratio of 2.58 and a beta of 0.74. The business has a fifty day moving average of $52.74 and a 200 day moving average of $51.03. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

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.