Monster Beverage Corporation $MNST Stake Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 15.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 615,897 shares of the company’s stock after acquiring an additional 83,246 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of Monster Beverage worth $41,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MNST. Forum Financial Management LP increased its position in Monster Beverage by 16.4% in the 3rd quarter. Forum Financial Management LP now owns 10,425 shares of the company’s stock worth $702,000 after purchasing an additional 1,466 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Monster Beverage in the 3rd quarter valued at approximately $205,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Monster Beverage by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,415 shares of the company’s stock worth $6,153,000 after buying an additional 1,170 shares during the last quarter. Trueblood Wealth Management LLC increased its holdings in Monster Beverage by 18.2% in the third quarter. Trueblood Wealth Management LLC now owns 4,145 shares of the company’s stock worth $279,000 after buying an additional 639 shares during the last quarter. Finally, Mainsail Financial Group LLC raised its position in Monster Beverage by 4.1% during the third quarter. Mainsail Financial Group LLC now owns 25,974 shares of the company’s stock valued at $1,748,000 after acquiring an additional 1,013 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Monster Beverage stock opened at $77.34 on Monday. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $78.31. The firm has a fifty day moving average price of $73.91 and a two-hundred day moving average price of $67.45. The firm has a market cap of $75.56 billion, a price-to-earnings ratio of 43.94, a P/E/G ratio of 2.02 and a beta of 0.46.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MNST. Citigroup reissued a “buy” rating and issued a $87.00 target price (up from $82.00) on shares of Monster Beverage in a research report on Wednesday, December 17th. Argus upgraded shares of Monster Beverage to a “strong-buy” rating in a report on Tuesday, November 25th. Stifel Nicolaus set a $82.00 target price on shares of Monster Beverage and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler set a $85.00 target price on Monster Beverage in a report on Wednesday, December 3rd. Finally, UBS Group upped their price target on Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

Insiders Place Their Bets

In other Monster Beverage news, insider Guy Carling sold 38,438 shares of Monster Beverage stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at $1,568,760.69. The trade was a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Emelie Tirre sold 30,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $73.31, for a total value of $2,199,300.00. Following the completion of the sale, the insider directly owned 63,939 shares of the company’s stock, valued at $4,687,368.09. This represents a 31.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 274,981 shares of company stock valued at $20,138,516 in the last three months. Company insiders own 7.80% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.