Icon Wealth Advisors LLC Buys 429 Shares of Monster Beverage Co. (NASDAQ:MNST)

Icon Wealth Advisors LLC lifted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,394 shares of the company’s stock after buying an additional 429 shares during the period. Icon Wealth Advisors LLC’s holdings in Monster Beverage were worth $334,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. raised its position in Monster Beverage by 2.7% in the third quarter. Hantz Financial Services Inc. now owns 55,481 shares of the company’s stock valued at $2,894,000 after purchasing an additional 1,435 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Monster Beverage by 4.6% in the third quarter. Vinva Investment Management Ltd now owns 43,250 shares of the company’s stock valued at $2,269,000 after buying an additional 1,903 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Monster Beverage by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 153,756 shares of the company’s stock valued at $8,021,000 after buying an additional 13,793 shares during the last quarter. National Wealth Management Group LLC acquired a new stake in Monster Beverage during the 3rd quarter worth approximately $732,000. Finally, FORA Capital LLC bought a new stake in Monster Beverage during the 3rd quarter worth approximately $6,016,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $55.13 on Friday. The business has a 50-day simple moving average of $53.11 and a 200 day simple moving average of $51.08. The firm has a market capitalization of $53.62 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22.

Analyst Ratings Changes

MNST has been the subject of several analyst reports. Evercore ISI dropped 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 note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Truist Financial decreased their price target on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Citigroup cut their price objective on Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group increased their target price on shares of Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.