Kentucky Retirement Systems Insurance Trust Fund Sells 1,996 Shares of Monster Beverage Co. (NASDAQ:MNST)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,881 shares of the company’s stock after selling 1,996 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Monster Beverage were worth $1,089,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MNST. Blair William & Co. IL raised its position in Monster Beverage by 37.0% in the 1st quarter. Blair William & Co. IL now owns 13,421 shares of the company’s stock worth $796,000 after purchasing an additional 3,624 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Monster Beverage by 7.2% in the first quarter. Orion Portfolio Solutions LLC now owns 30,752 shares of the company’s stock worth $1,823,000 after buying an additional 2,062 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Monster Beverage during the 1st quarter worth approximately $763,000. Cynosure Group LLC purchased a new position in Monster Beverage during the 1st quarter valued at $318,000. Finally, Rockport Wealth LLC purchased a new position in Monster Beverage during the 1st quarter valued at $277,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 7.1 %

NASDAQ:MNST opened at $52.00 on Monday. The stock has a market capitalization of $50.57 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.48 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 company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $52.40 and a 200 day moving average of $51.04.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MNST. JPMorgan Chase & Co. decreased their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Bank of America raised 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. TD Cowen lifted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada dropped their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has an average rating of “Moderate Buy” and an average 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.