Retirement Systems of Alabama cut its position in Monster Beverage Corp. (NASDAQ:MNST) by 47.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 106,071 shares of the company’s stock after selling 97,702 shares during the period. Retirement Systems of Alabama’s holdings in Monster Beverage Corp. were worth $17,047,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. NN Investment Partners Holdings N.V. bought a new position in shares of Monster Beverage Corp. during the first quarter worth about $121,000. Meeder Asset Management Inc. boosted its position in shares of Monster Beverage Corp. by 1,798.1% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the company’s stock worth $132,000 after buying an additional 935 shares during the last quarter. Genesee Valley Trust Co. bought a new position in shares of Monster Beverage Corp. during the second quarter worth about $204,000. Stone Ridge Asset Management LLC bought a new position in shares of Monster Beverage Corp. during the first quarter worth about $280,000. Finally, Seven Eight Capital LLC boosted its position in shares of Monster Beverage Corp. by 120.0% in the first quarter. Seven Eight Capital LLC now owns 2,200 shares of the company’s stock worth $293,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 67.42% of the company’s stock.
Monster Beverage Corp. (NASDAQ:MNST) traded up 0.99% during trading on Friday, hitting $146.81. The company had a trading volume of 721,375 shares. Monster Beverage Corp. has a one year low of $113.08 and a one year high of $166.50. The stock has a market capitalization of $27.95 billion, a PE ratio of 45.82 and a beta of 0.65. The stock has a 50-day moving average of $152.24 and a 200-day moving average of $148.84.
Monster Beverage Corp. (NASDAQ:MNST) last released its earnings results on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by $0.04. The firm had revenue of $945.80 million for the quarter, compared to the consensus estimate of $804.24 million. Monster Beverage Corp. had a return on equity of 15.46% and a net margin of 22.73%. Monster Beverage Corp.’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. On average, equities analysts anticipate that Monster Beverage Corp. will post $3.90 EPS for the current year.
A number of equities analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Monster Beverage Corp. from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Susquehanna reiterated a “hold” rating on shares of Monster Beverage Corp. in a report on Wednesday, September 7th. Credit Agricole SA reiterated a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Monster Beverage Corp. in a report on Friday, June 17th. Credit Suisse Group AG began coverage on Monster Beverage Corp. in a report on Thursday, September 15th. They set an “outperform” rating and a $187.00 price target on the stock. Finally, Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Monster Beverage Corp. in a report on Friday, July 15th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Monster Beverage Corp. has an average rating of “Buy” and an average target price of $166.37.
In other Monster Beverage Corp. news, VP Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the completion of the transaction, the vice president now owns 5,717 shares in the company, valued at approximately $912,776.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.20% of the company’s stock.
Monster Beverage Corp. Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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