MetLife Investment Management LLC Cuts Stock Position in Monster Beverage Co. (NASDAQ:MNST)

MetLife Investment Management LLC trimmed its position in Monster Beverage Co. (NASDAQ:MNST) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,642 shares of the company’s stock after selling 8,478 shares during the period. MetLife Investment Management LLC’s holdings in Monster Beverage were worth $10,937,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $26,000. Stephens Consulting LLC acquired a new position in Monster Beverage during the 2nd quarter worth approximately $26,000. Kings Path Partners LLC purchased a new position in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Monster Beverage in the 2nd quarter valued at approximately $30,000. Finally, Quarry LP raised its position in Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after acquiring an additional 497 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Trading Up 0.6 %

Shares of MNST opened at $55.14 on Friday. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The stock has a fifty day moving average of $53.03 and a two-hundred day moving average of $51.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The company has a market capitalization of $53.62 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. TD Cowen upped their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Roth Mkm dropped their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Evercore ISI decreased their price target on Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group raised their price objective on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two investment 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, the stock has an average rating of “Moderate Buy” and a consensus 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.