New York State Common Retirement Fund Sells 90,274 Shares of Monster Beverage Co. (NASDAQ:MNST)

New York State Common Retirement Fund cut its position in Monster Beverage Co. (NASDAQ:MNST) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,199,439 shares of the company’s stock after selling 90,274 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Monster Beverage worth $69,100,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Peoples Bank KS acquired a new position in Monster Beverage in the 3rd quarter valued at $26,000. Headinvest LLC acquired a new position in Monster Beverage in the 3rd quarter valued at $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Monster Beverage in the 3rd quarter valued at $31,000. Catalyst Capital Advisors LLC raised its holdings in Monster Beverage by 34.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock valued at $41,000 after acquiring an additional 199 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new position in Monster Beverage in the 3rd quarter valued at $53,000. 72.36% of the stock is currently owned by institutional investors.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is owned by corporate insiders.

Monster Beverage Trading Up 0.2 %

NASDAQ MNST opened at $53.73 on Wednesday. The business’s 50-day moving average price is $57.09 and its two-hundred day moving average price is $55.60. Monster Beverage Co. has a 12 month low of $47.13 and a 12 month high of $61.22. The firm has a market capitalization of $55.91 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.19 and a beta of 0.72.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Monster Beverage had a return on equity of 20.95% and a net margin of 22.84%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue was up 14.4% on a year-over-year basis. As a group, analysts forecast that Monster Beverage Co. will post 1.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MNST shares. Royal Bank of Canada lifted their price objective on Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Jefferies Financial Group boosted their price target on Monster Beverage from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Monster Beverage from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, February 26th. HSBC lowered their price target on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Finally, UBS Group boosted their price target on Monster Beverage from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $63.11.

Monster Beverage 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.