Sanctuary Advisors LLC Cuts Position in Monster Beverage Co. (NASDAQ:MNST)

Sanctuary Advisors LLC decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 1.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,123 shares of the company’s stock after selling 1,697 shares during the period. Sanctuary Advisors LLC’s holdings in Monster Beverage were worth $8,872,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Wealth Enhancement Advisory Services LLC boosted its holdings in Monster Beverage by 13.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,866 shares of the company’s stock valued at $1,392,000 after acquiring an additional 3,214 shares during the period. Swedbank AB grew its holdings in shares of Monster Beverage by 23.1% in the second quarter. Swedbank AB now owns 121,731 shares of the company’s stock worth $6,080,000 after purchasing an additional 22,823 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Monster Beverage by 53.8% in the second quarter. Blue Trust Inc. now owns 4,178 shares of the company’s stock worth $209,000 after purchasing an additional 1,462 shares during the last quarter. Gradient Investments LLC raised its holdings in Monster Beverage by 212.8% during the 2nd quarter. Gradient Investments LLC now owns 2,396 shares of the company’s stock valued at $120,000 after buying an additional 1,630 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in Monster Beverage during the 2nd quarter valued at $565,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST opened at $52.76 on Friday. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The firm’s 50-day simple moving average is $53.41 and its two-hundred day simple moving average is $51.06. The stock has a market cap of $51.31 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Analyst Upgrades and Downgrades

MNST has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus raised their target price on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 8th. Bank of America boosted their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. dropped their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus price target of $56.45.

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.