Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC trimmed its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,474 shares of the company’s stock after selling 650 shares during the period. Ironwood Investment Counsel LLC’s holdings in Monster Beverage were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Lazard Asset Management LLC increased its holdings in Monster Beverage by 40.0% in the first quarter. Lazard Asset Management LLC now owns 2,189 shares of the company’s stock valued at $129,000 after buying an additional 625 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Monster Beverage by 37.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,869 shares of the company’s stock valued at $822,000 after purchasing an additional 3,767 shares in the last quarter. Hancock Whitney Corp acquired a new position in Monster Beverage in the 1st quarter worth about $225,000. LRI Investments LLC purchased a new position in Monster Beverage during the first quarter worth approximately $26,000. Finally, Swedbank AB acquired a new stake in Monster Beverage in the first quarter valued at approximately $5,863,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Down 0.0 %

Shares of MNST opened at $55.13 on Friday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $53.11 and a two-hundred day simple moving average of $51.08. The company has a market capitalization of $53.62 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MNST shares. Stifel Nicolaus upped 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. Argus increased their price objective on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company lifted their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, TD Cowen lifted their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, 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.