Caisse DE Depot ET Placement DU Quebec Sells 876,450 Shares of Monster Beverage Co. (NASDAQ:MNST)

Caisse DE Depot ET Placement DU Quebec lowered its holdings in Monster Beverage Co. (NASDAQ:MNST) by 86.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,288 shares of the company’s stock after selling 876,450 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Monster Beverage were worth $6,954,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Stephens Consulting LLC bought a new position in Monster Beverage in the second quarter worth approximately $26,000. Kings Path Partners LLC bought a new position in shares of Monster Beverage in the 2nd quarter worth $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Monster Beverage during the 2nd quarter worth $30,000. Quarry LP boosted its position in Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company’s stock valued at $41,000 after purchasing an additional 497 shares in the last quarter. Finally, Crewe Advisors LLC grew its stake in Monster Beverage by 37.5% in the second quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock valued at $42,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MNST. Royal Bank of Canada decreased their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Roth Mkm lowered their target price on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Bank of America upped their price target on Monster Beverage from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Truist Financial lowered their price objective 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, Wells Fargo & Company upped their target price on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Stock Down 0.3 %

Shares of MNST opened at $54.98 on Tuesday. The company has a market capitalization of $53.47 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 2.63 and a beta of 0.74. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The stock’s 50-day moving average price is $53.11 and its 200-day moving average price is $51.03. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage 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.