Monster Beverage Co. (NASDAQ:MNST) Stock Holdings Reduced by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,224 shares of the company's stock after selling 10,338 shares during the period. State of Tennessee Department of Treasury's holdings in Monster Beverage were worth $11,470,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MNST. Migdal Insurance & Financial Holdings Ltd. boosted its position in Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after purchasing an additional 203 shares during the period. Spire Wealth Management bought a new stake in shares of Monster Beverage during the 4th quarter worth $29,000. Retirement Wealth Solutions LLC bought a new stake in shares of Monster Beverage during the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new position in Monster Beverage in the 4th quarter valued at $31,000. Finally, Geneos Wealth Management Inc. bought a new position in Monster Beverage in the 4th quarter worth $33,000. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MNST has been the topic of several research analyst reports. Citigroup raised their price target on Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Morgan Stanley upped their price target on Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating and issued a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. Jefferies Financial Group upped their target price on shares of Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, UBS Group raised their price target on shares of Monster Beverage from $57.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $57.89.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $54.50, for a total transaction of $654,000.00. Following the completion of the transaction, the director now owns 296,846 shares in the company, valued at approximately $16,178,107. The trade was a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares in the company, valued at approximately $3,994,528.71. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock valued at $11,484,440 over the last three months. Company insiders own 7.80% of the company's stock.

Monster Beverage Trading Down 0.2 %

MNST opened at $59.15 on Thursday. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $60.34. The firm has a 50-day moving average price of $56.11 and a two-hundred day moving average price of $53.30. The stock has a market capitalization of $57.56 billion, a PE ratio of 37.92, a PEG ratio of 2.28 and a beta of 0.64. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

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

Monster Beverage 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.

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