Monster Beverage Co. (NASDAQ:MNST) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,116 shares of the company's stock after selling 9,100 shares during the quarter. State of Michigan Retirement System's holdings in Monster Beverage were worth $10,196,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Monster Beverage by 59.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company's stock worth $7,609,000 after purchasing an additional 49,495 shares during the period. Alaethes Wealth LLC bought a new stake in Monster Beverage during the 4th quarter valued at approximately $1,528,000. Norges Bank acquired a new position in Monster Beverage in the 4th quarter valued at approximately $517,035,000. First Trust Advisors LP raised its holdings in shares of Monster Beverage by 1.3% in the 4th quarter. First Trust Advisors LP now owns 3,904,636 shares of the company's stock worth $224,946,000 after buying an additional 50,454 shares in the last quarter. Finally, Sapient Capital LLC acquired a new stake in Monster Beverage during the 4th quarter valued at $3,072,000. 72.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Hilton H. Schlosberg sold 42,144 shares of the firm's stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the transaction, the chief executive officer now owns 1,875,558 shares in the company, valued at $99,404,574. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mark J. Hall sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares in the company, valued at approximately $27,820,413.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total value of $2,233,632.00. Following the sale, the chief executive officer now directly owns 1,875,558 shares of the company's stock, valued at $99,404,574. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Trading Down 1.1 %

NASDAQ MNST traded down $0.54 during midday trading on Wednesday, hitting $47.05. The company had a trading volume of 4,447,412 shares, compared to its average volume of 7,285,515. The company has a market capitalization of $49.01 billion, a PE ratio of 29.59, a P/E/G ratio of 2.09 and a beta of 0.76. The firm has a 50-day moving average price of $49.20 and a 200-day moving average price of $53.07. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Monster Beverage's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Monster Beverage Co. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BNP Paribas started coverage on Monster Beverage in a research report on Monday, June 24th. They issued an "underperform" rating and a $48.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Monster Beverage from $64.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Roth Mkm reduced their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. UBS Group cut their price target on shares of Monster Beverage from $55.00 to $51.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their target price on shares of Monster Beverage from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.85.

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.