New York State Teachers Retirement System Has $48.84 Million Stock Position in Monster Beverage Corporation $MNST

New York State Teachers Retirement System boosted its position in Monster Beverage Corporation (NASDAQ:MNST) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 637,066 shares of the company’s stock after acquiring an additional 21,169 shares during the period. New York State Teachers Retirement System’s holdings in Monster Beverage were worth $48,844,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MNST. Physician Wealth Advisors Inc. raised its position in shares of Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in Monster Beverage during the 3rd quarter valued at $27,000. Harbor Investment Advisory LLC raised its holdings in Monster Beverage by 136.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock worth $27,000 after buying an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after buying an additional 415 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Monster Beverage in the third quarter valued at $29,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, February 27th. BNP Paribas Exane raised shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a research report on Friday, January 16th. UBS Group cut their price target on Monster Beverage from $92.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Piper Sandler boosted their price objective on Monster Beverage from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Royal Bank Of Canada set a $86.00 price objective on Monster Beverage in a research note on Thursday, April 9th. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average price target of $84.55.

Monster Beverage Price Performance

Shares of MNST stock opened at $77.12 on Friday. The firm has a 50-day moving average of $76.62 and a 200-day moving average of $75.69. The company has a market cap of $75.42 billion, a P/E ratio of 39.75, a P/E/G ratio of 2.70 and a beta of 0.51. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $87.38.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts expect that Monster Beverage Corporation will post 2.29 earnings per share for the current fiscal year.

About Monster Beverage

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.