State of New Jersey Common Pension Fund D Decreases Stake in Monster Beverage Corporation $MNST

State of New Jersey Common Pension Fund D reduced its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 252,064 shares of the company’s stock after selling 2,711 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Monster Beverage were worth $15,789,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Sage Mountain Advisors LLC boosted its position in shares of Monster Beverage by 18.3% during the 2nd quarter. Sage Mountain Advisors LLC now owns 9,696 shares of the company’s stock worth $607,000 after purchasing an additional 1,500 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Monster Beverage by 20.4% during the 2nd quarter. AlphaQuest LLC now owns 31,545 shares of the company’s stock worth $1,976,000 after purchasing an additional 5,353 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Monster Beverage by 2.0% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,859,273 shares of the company’s stock worth $116,465,000 after purchasing an additional 36,204 shares in the last quarter. Smith Group Asset Management LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter worth $291,000. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Monster Beverage by 4.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,348 shares of the company’s stock worth $460,000 after purchasing an additional 310 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at approximately $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company’s stock.

Monster Beverage Trading Down 0.3%

NASDAQ:MNST opened at $69.69 on Friday. The firm has a market cap of $68.05 billion, a price-to-earnings ratio of 43.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The company’s 50-day moving average is $65.67 and its two-hundred day moving average is $62.79. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $70.72.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. On average, equities research analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Wells Fargo & Company set a $73.00 price objective on shares of Monster Beverage and gave the stock an “overweight” rating in a research report on Friday, August 8th. Piper Sandler upgraded shares of Monster Beverage from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $54.00 to $74.00 in a research report on Thursday, August 7th. Finally, Roth Capital reiterated a “neutral” rating and issued a $60.00 price objective (up from $56.00) on shares of Monster Beverage in a research report on Wednesday, August 13th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Monster Beverage currently has an average rating of “Hold” and an average target price of $66.43.

Monster Beverage Company 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.