Bank of Montreal Can Trims Holdings in Monster Beverage Co. (NASDAQ:MNST)

Bank of Montreal Can cut its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 12.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400,496 shares of the company’s stock after selling 195,963 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of Monster Beverage worth $73,470,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MNST. Loomis Sayles & Co. L P raised its holdings in Monster Beverage by 4.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock valued at $1,416,048,000 after acquiring an additional 1,229,789 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Monster Beverage by 43.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 45,342 shares of the company’s stock valued at $2,365,000 after purchasing an additional 13,816 shares during the period. Daiwa Securities Group Inc. increased its stake in Monster Beverage by 6.7% in the third quarter. Daiwa Securities Group Inc. now owns 151,364 shares of the company’s stock valued at $7,897,000 after purchasing an additional 9,496 shares during the last quarter. Hartford Funds Management Co LLC lifted its position in Monster Beverage by 15.9% during the third quarter. Hartford Funds Management Co LLC now owns 6,727 shares of the company’s stock worth $351,000 after buying an additional 924 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in Monster Beverage by 51.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 14,764 shares of the company’s stock worth $770,000 after buying an additional 5,003 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada lowered their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup cut their target price on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial lowered their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Finally, Evercore ISI dropped their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. 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 stock presently has an average rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Price Performance

MNST stock opened at $54.83 on Wednesday. The company has a market capitalization of $53.32 billion, a PE ratio of 35.15, a P/E/G ratio of 2.58 and a beta of 0.74. 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’s 50 day moving average is $52.90 and its two-hundred day moving average is $51.02. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22.

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.