5 Best Debt Free Stocks To Buy

4. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 44    

Monster Beverage Corporation (NASDAQ:MNST) engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. On November 8, the firm announced that the board of directors of the company had approved an additional stock buyback program worth $500 million. The new program was approved despite nearly $282 million worth of stock being available for repurchase under an existing buyback program approved previously. 

On November 13, investment advisory Jefferies initiated coverage of Monster Beverage Corporation (NASDAQ:MNST) stock with a Buy rating and a price target of $65, noting that the core business of the company remains strong. 

At the end of the second quarter of 2023, 44 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Monster Beverage Corporation (NASDAQ:MNST), compared to 50 in the preceding quarter worth $1.5 billion.