Teacher Retirement System of Texas Grows Stake in Monster Beverage Co. (NASDAQ:MNST)

Teacher Retirement System of Texas raised its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 6,279.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 315,642 shares of the company's stock after purchasing an additional 310,694 shares during the period. Teacher Retirement System of Texas' holdings in Monster Beverage were worth $16,590,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MNST. Harvest Fund Management Co. Ltd raised its stake in Monster Beverage by 26.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 57,235 shares of the company's stock worth $2,994,000 after buying an additional 11,893 shares in the last quarter. Vinva Investment Management Ltd lifted its position in Monster Beverage by 41.4% during the fourth quarter. Vinva Investment Management Ltd now owns 61,136 shares of the company's stock valued at $3,211,000 after acquiring an additional 17,886 shares during the last quarter. Xponance Inc. grew its holdings in Monster Beverage by 0.4% in the fourth quarter. Xponance Inc. now owns 149,628 shares of the company's stock worth $7,864,000 after purchasing an additional 662 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in Monster Beverage in the fourth quarter worth $1,321,000. Finally, Horizon Investments LLC increased its position in shares of Monster Beverage by 3.5% during the fourth quarter. Horizon Investments LLC now owns 22,031 shares of the company's stock worth $1,158,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 72.36% of the company's stock.

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Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the sale, the chief financial officer now directly owns 72,273 shares in the company, valued at $3,994,528.71. This trade represents a 12.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark J. Hall sold 12,000 shares of Monster Beverage stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $54.50, for a total value of $654,000.00. Following the completion of the transaction, the director now owns 296,846 shares of the company's stock, valued at approximately $16,178,107. This represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,316 shares of company stock worth $11,484,440. 7.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on MNST shares. Needham & Company LLC restated a "hold" rating on shares of Monster Beverage in a research note on Friday, February 28th. Royal Bank of Canada restated an "outperform" rating and set a $59.00 price objective on shares of Monster Beverage in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of Monster Beverage from $51.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. BNP Paribas cut their price target on shares of Monster Beverage from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Thursday, December 19th. Finally, Citigroup lifted their price objective on shares of Monster Beverage from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.83.

Monster Beverage Stock Performance

Monster Beverage stock traded down $0.08 during midday trading on Wednesday, hitting $57.76. 5,211,032 shares of the company were exchanged, compared to its average volume of 6,715,824. The business has a fifty day simple moving average of $51.67 and a two-hundred day simple moving average of $52.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm has a market capitalization of $56.21 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $60.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. On average, sell-side analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Monster Beverage Company 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.