OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Monster Beverage Co. (NASDAQ:MNST)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Monster Beverage Co. (NASDAQ:MNST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 26,300 shares of the company’s stock, valued at approximately $1,372,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ninety One UK Ltd lifted its stake 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 valued at $373,519,000 after acquiring an additional 3,620,436 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Monster Beverage by 1,148.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB bought a new position in Monster Beverage during the second quarter worth about $81,757,000. Vanguard Group Inc. increased its position in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after buying an additional 1,059,042 shares during the last quarter. Finally, Ossiam raised its stake in Monster Beverage by 5,185.8% in the first quarter. Ossiam now owns 1,069,366 shares of the company’s stock valued at $63,392,000 after buying an additional 1,049,135 shares during the period. 72.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MNST. Roth Mkm reduced their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada dropped their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lifted their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler decreased their price target on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Monster Beverage 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 $56.02 on Wednesday. The business has a fifty day moving average price of $51.86 and a two-hundred day moving average price of $51.00. The stock has a market capitalization of $54.87 billion, a PE ratio of 35.91, a P/E/G ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two 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.