BNP Paribas Decreases Position in Monster Beverage Co. (NASDAQ:MNST)

BNP Paribas lessened its holdings in Monster Beverage Co. (NASDAQ:MNST) by 50.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,993 shares of the company’s stock after selling 9,096 shares during the quarter. BNP Paribas’ holdings in Monster Beverage were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd boosted its position in Monster Beverage by 2.3% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 23,858 shares of the company’s stock valued at $1,192,000 after buying an additional 532 shares during the period. Cetera Advisors LLC boosted its position in Monster Beverage by 128.1% in the 1st quarter. Cetera Advisors LLC now owns 20,527 shares of the company’s stock valued at $1,217,000 after buying an additional 11,528 shares during the period. Swedbank AB boosted its position in Monster Beverage by 23.1% in the 2nd quarter. Swedbank AB now owns 121,731 shares of the company’s stock valued at $6,080,000 after buying an additional 22,823 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Monster Beverage by 50.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 100,367 shares of the company’s stock valued at $5,013,000 after buying an additional 33,478 shares during the period. Finally, Natixis Advisors LLC boosted its position in Monster Beverage by 6.8% in the 3rd quarter. Natixis Advisors LLC now owns 2,077,972 shares of the company’s stock valued at $108,408,000 after buying an additional 133,080 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST opened at $55.14 on Thursday. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The stock has a market cap of $53.62 billion, a P/E ratio of 35.35, a PEG ratio of 2.63 and a beta of 0.74. The company has a 50-day moving average of $52.96 and a two-hundred day moving average of $51.05. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI decreased their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Argus raised 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. Roth Mkm reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Truist Financial reduced their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada reduced their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus 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.