Monster Beverage Corporation $MNST Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 100.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,000 shares of the company’s stock after acquiring an additional 35,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Monster Beverage were worth $2,955,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bingham Private Wealth LLC boosted its position in Monster Beverage by 102.4% in the 3rd quarter. Bingham Private Wealth LLC now owns 5,146 shares of the company’s stock valued at $214,000 after buying an additional 2,603 shares during the period. Maryland State Retirement & Pension System grew its stake in Monster Beverage by 126.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 85,655 shares of the company’s stock worth $3,565,000 after acquiring an additional 47,799 shares in the last quarter. Ritholtz Wealth Management grew its stake in Monster Beverage by 93.0% in the 3rd quarter. Ritholtz Wealth Management now owns 34,506 shares of the company’s stock worth $1,436,000 after acquiring an additional 16,631 shares in the last quarter. UNIVEST FINANCIAL Corp increased its position in shares of Monster Beverage by 90.5% during the third quarter. UNIVEST FINANCIAL Corp now owns 147,171 shares of the company’s stock worth $6,125,000 after acquiring an additional 69,932 shares during the period. Finally, NBH Bank increased its position in shares of Monster Beverage by 328.9% during the third quarter. NBH Bank now owns 1,411 shares of the company’s stock worth $59,000 after acquiring an additional 1,082 shares during the period. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Up 0.1%

Shares of NASDAQ MNST opened at $45.40 on Thursday. The stock has a market capitalization of $88.87 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.51. The stock’s fifty day simple moving average is $44.68 and its two-hundred day simple moving average is $43.37. Monster Beverage Corporation has a 12-month low of $35.03 and a 12-month high of $50.17.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. Monster Beverage had a return on equity of 24.99% and a net margin of 22.66%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. On average, equities analysts predict that Monster Beverage Corporation will post 1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MNST shares. Deutsche Bank reaffirmed a “hold” rating and set a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. JPMorgan Chase & Co. dropped their price objective on Monster Beverage from $49.50 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, October 26th. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price objective on shares of Monster Beverage in a research note on Friday, November 6th. The Goldman Sachs Group restated a “buy” rating and set a $55.00 price objective on shares of Monster Beverage in a report on Friday, November 6th. Finally, UBS Group reaffirmed a “neutral” rating and set a $50.00 target price (up from $49.00) on shares of Monster Beverage in a research report on Friday, November 6th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.07.

About Monster Beverage

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.