ING Groep NV Reduces Holdings in Monster Beverage Co. (NASDAQ:MNST)

ING Groep NV lowered its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 89.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,248 shares of the company’s stock after selling 169,664 shares during the period. ING Groep NV’s holdings in Monster Beverage were worth $1,056,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MNST. LRI Investments LLC bought a new position in shares of Monster Beverage in the 1st quarter worth approximately $26,000. Stephens Consulting LLC purchased a new position in Monster Beverage during the second quarter valued at $26,000. Kings Path Partners LLC purchased a new position in Monster Beverage during the second quarter valued at $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Monster Beverage in the 2nd quarter worth about $30,000. Finally, Crewe Advisors LLC bought a new position in shares of Monster Beverage in the 1st quarter worth about $37,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $52.00 on Monday. 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 stock has a market capitalization of $50.57 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74. The firm’s 50 day moving average price is $52.40 and its 200-day moving average price is $51.04. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research reports. BMO Capital Markets dropped their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. 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 note on Tuesday, October 15th. Royal Bank of Canada lowered their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Piper Sandler lowered their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $56.45.

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.