Monster Beverage Co. (NASDAQ:MNST) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in Monster Beverage Co. (NASDAQ:MNST) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,955 shares of the company’s stock after selling 448 shares during the quarter. King Luther Capital Management Corp’s holdings in Monster Beverage were worth $415,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MNST. LRI Investments LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at $26,000. Lazard Asset Management LLC increased its stake in Monster Beverage by 40.0% during the first quarter. Lazard Asset Management LLC now owns 2,189 shares of the company’s stock worth $129,000 after acquiring an additional 625 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in Monster Beverage by 4.4% during the first quarter. Mount Yale Investment Advisors LLC now owns 7,023 shares of the company’s stock valued at $416,000 after buying an additional 298 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in Monster Beverage by 25.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 88,949 shares of the company’s stock worth $5,273,000 after purchasing an additional 17,994 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after buying an additional 440,962 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $54.06 on Friday. 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 firm has a fifty day simple moving average of $52.74 and a 200-day simple moving average of $51.05. The stock has a market capitalization of $52.57 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.58 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup reduced their price target on Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Stifel Nicolaus upped their price objective 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 reduced their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group cut their price target on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average price target 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.