Pinnacle Financial Partners Inc Acquires 345 Shares of Monster Beverage Co. (NASDAQ:MNST)

Pinnacle Financial Partners Inc raised its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,318 shares of the company’s stock after purchasing an additional 345 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Monster Beverage were worth $277,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MNST. Empower Advisory Group LLC lifted its stake in Monster Beverage by 5.3% in the third quarter. Empower Advisory Group LLC now owns 1,184,902 shares of the company’s stock valued at $61,816,000 after buying an additional 59,740 shares during the period. Dillon & Associates Inc. increased its stake in shares of Monster Beverage by 0.9% in the 3rd quarter. Dillon & Associates Inc. now owns 50,605 shares of the company’s stock valued at $2,631,000 after acquiring an additional 470 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Monster Beverage in the 3rd quarter valued at approximately $14,819,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Monster Beverage during the 3rd quarter worth approximately $1,372,000. Finally, Venturi Wealth Management LLC grew its holdings in Monster Beverage by 12.8% during the third quarter. Venturi Wealth Management LLC now owns 4,864 shares of the company’s stock valued at $254,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.7 %

Monster Beverage stock opened at $55.96 on Friday. The company has a market cap of $54.42 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.67 and a beta of 0.74. The firm has a 50-day moving average of $52.18 and a 200-day moving average of $51.06. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Roth Mkm reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Wells Fargo & Company boosted their price objective on Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, UBS Group increased their target price on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Monster Beverage currently has a consensus 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.