Monster Beverage Co. (NASDAQ:MNST) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Monster Beverage Co. (NASDAQ:MNSTFree Report) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 1,420,111 shares of the company’s stock after selling 46,786 shares during the period. California Public Employees Retirement System’s holdings in Monster Beverage were worth $81,813,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MNST. Tokio Marine Asset Management Co. Ltd. increased its holdings in Monster Beverage by 8.4% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 19,210 shares of the company’s stock valued at $1,017,000 after acquiring an additional 1,482 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Monster Beverage by 112.2% during the 3rd quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock valued at $10,339,000 after acquiring an additional 103,271 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Monster Beverage during the 4th quarter valued at about $7,340,000. Defender Capital LLC. increased its holdings in Monster Beverage by 30.2% during the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock valued at $21,378,000 after acquiring an additional 86,050 shares in the last quarter. Finally, Marshall Financial Group LLC purchased a new position in Monster Beverage during the 4th quarter valued at about $1,848,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

MNST opened at $54.33 on Thursday. The company’s 50 day simple moving average is $57.06 and its 200 day simple moving average is $55.59. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22. The stock has a market capitalization of $56.54 billion, a PE ratio of 35.05, a P/E/G ratio of 2.20 and a beta of 0.72.

Monster Beverage (NASDAQ:MNSTGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. Monster Beverage’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the sale, the director now directly owns 777,840 shares in the company, valued at $45,542,532. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MNST. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their target price for the company from $65.00 to $46.00 in a report on Thursday. Redburn Atlantic began coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They set a “buy” rating on the stock. UBS Group raised their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Royal Bank of Canada raised their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group raised their price target on shares of Monster Beverage from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.79.

View Our Latest Stock Analysis on MNST

About Monster Beverage

(Free Report)

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.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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