KBC Group NV Has $10.31 Million Stake in Monster Beverage Co. (NASDAQ:MNST)

KBC Group NV grew its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,555 shares of the company’s stock after purchasing an additional 4,651 shares during the period. KBC Group NV’s holdings in Monster Beverage were worth $10,307,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. ICICI Prudential Asset Management Co Ltd grew its position in Monster Beverage by 11.7% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 12,787 shares of the company’s stock worth $667,000 after buying an additional 1,344 shares in the last quarter. Saturna Capital Corp lifted its position in shares of Monster Beverage by 1.9% during the 3rd quarter. Saturna Capital Corp now owns 32,800 shares of the company’s stock valued at $1,711,000 after acquiring an additional 600 shares during the period. Pinnacle Financial Partners Inc grew its holdings in shares of Monster Beverage by 6.9% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 5,318 shares of the company’s stock worth $277,000 after purchasing an additional 345 shares in the last quarter. Empower Advisory Group LLC increased its position in shares of Monster Beverage by 5.3% in the third quarter. Empower Advisory Group LLC now owns 1,184,902 shares of the company’s stock worth $61,816,000 after purchasing an additional 59,740 shares during the period. Finally, Dillon & Associates Inc. raised its stake in Monster Beverage by 0.9% in the third quarter. Dillon & Associates Inc. now owns 50,605 shares of the company’s stock valued at $2,631,000 after purchasing an additional 470 shares in the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage Stock Performance

NASDAQ MNST opened at $52.00 on Friday. The company has a market capitalization of $50.57 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.69 and a beta of 0.74. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The stock has a fifty day simple moving average of $52.40 and a 200 day simple moving average of $51.08. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

MNST has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America lifted their price objective on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their target price on Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. UBS Group lifted their price target on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Monster Beverage from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.