Teacher Retirement System of Texas Trims Stake in Monster Beverage Corporation $MNST

Teacher Retirement System of Texas decreased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 734,799 shares of the company’s stock after selling 32,571 shares during the period. Teacher Retirement System of Texas’ holdings in Monster Beverage were worth $56,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MNST. Massachusetts Financial Services Co. MA grew its holdings in shares of Monster Beverage by 7,360.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock worth $474,695,000 after acquiring an additional 6,108,420 shares during the period. State Street Corp grew its holdings in shares of Monster Beverage by 8.0% during the 3rd quarter. State Street Corp now owns 37,719,091 shares of the company’s stock worth $2,538,872,000 after acquiring an additional 2,789,273 shares during the period. Vanguard Group Inc. grew its holdings in shares of Monster Beverage by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company’s stock worth $4,542,320,000 after acquiring an additional 2,122,685 shares during the period. Capital Research Global Investors grew its holdings in shares of Monster Beverage by 71.4% during the 3rd quarter. Capital Research Global Investors now owns 5,033,066 shares of the company’s stock worth $338,765,000 after acquiring an additional 2,096,575 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Monster Beverage by 262.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,327,626 shares of the company’s stock worth $178,459,000 after acquiring an additional 1,684,752 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ MNST opened at $75.95 on Thursday. The business’s fifty day moving average price is $77.19 and its 200-day moving average price is $75.37. The stock has a market capitalization of $74.27 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.63 and a beta of 0.51. Monster Beverage Corporation has a 1-year low of $57.86 and a 1-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, beating the consensus estimate of $0.49 by $0.02. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. Equities research analysts anticipate that Monster Beverage Corporation will post 2.29 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MNST. Evercore upped their price target on Monster Beverage from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. TD Cowen cut their price target on Monster Beverage from $88.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday. Morgan Stanley restated an “overweight” rating and issued a $96.00 price target (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Monster Beverage in a research note on Monday, December 29th. Finally, Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and a consensus target price of $84.65.

Monster Beverage 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.