New York State Teachers Retirement System Grows Stock Position in Monster Beverage Corporation $MNST

New York State Teachers Retirement System lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 532,651 shares of the company’s stock after purchasing an additional 360 shares during the quarter. New York State Teachers Retirement System owned about 0.05% of Monster Beverage worth $33,365,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MNST. GAMMA Investing LLC raised its stake in shares of Monster Beverage by 2.2% during the first quarter. GAMMA Investing LLC now owns 21,433 shares of the company’s stock worth $1,254,000 after purchasing an additional 460 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Monster Beverage by 28.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,501 shares of the company’s stock worth $2,136,000 after acquiring an additional 8,155 shares in the last quarter. Ritholtz Wealth Management raised its position in Monster Beverage by 5.5% in the first quarter. Ritholtz Wealth Management now owns 5,138 shares of the company’s stock worth $301,000 after acquiring an additional 267 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Monster Beverage by 142.1% in the first quarter. Exchange Traded Concepts LLC now owns 15,643 shares of the company’s stock worth $915,000 after acquiring an additional 9,181 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in Monster Beverage in the first quarter worth $336,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Bank of America increased their price objective on Monster Beverage from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group increased their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on Monster Beverage from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and cut their price objective for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.05.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the sale, the director owned 51,191 shares in the company, valued at approximately $3,262,402.43. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Stock Up 2.2%

Shares of MNST stock opened at $70.16 on Friday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.51. The stock has a market cap of $68.51 billion, a P/E ratio of 43.58, a P/E/G ratio of 2.39 and a beta of 0.54. The business has a fifty day simple moving average of $65.01 and a 200-day simple moving average of $62.24.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

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.