Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Empirical Finance LLC

Empirical Finance LLC grew its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,733 shares of the company’s stock after purchasing an additional 417 shares during the period. Empirical Finance LLC’s holdings in Monster Beverage were worth $1,342,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MNST. CIBC Asset Management Inc increased its stake in Monster Beverage by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 273,708 shares of the company’s stock worth $14,279,000 after buying an additional 3,525 shares during the period. Zions Bancorporation N.A. increased its position in shares of Monster Beverage by 10.7% during the third quarter. Zions Bancorporation N.A. now owns 64,868 shares of the company’s stock worth $3,384,000 after acquiring an additional 6,266 shares during the period. KBC Group NV raised its stake in shares of Monster Beverage by 2.4% in the third quarter. KBC Group NV now owns 197,555 shares of the company’s stock valued at $10,307,000 after acquiring an additional 4,651 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Monster Beverage by 11.7% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 12,787 shares of the company’s stock valued at $667,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Saturna Capital Corp boosted its holdings in Monster Beverage by 1.9% in the third quarter. Saturna Capital Corp now owns 32,800 shares of the company’s stock valued at $1,711,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Down 7.1 %

Shares of NASDAQ:MNST opened at $52.00 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. The stock has a market cap of $50.57 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.69 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The firm has a fifty day moving average price of $52.40 and a 200 day moving average price of $51.08.

Analysts Set New Price Targets

MNST has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group decreased their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial lowered their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a report on Friday, August 9th. Bank of America raised their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus boosted their target price on shares of Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two investment 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.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target 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.