Monster Beverage Co. (NASDAQ:MNST) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 608,204 shares of the company's stock after selling 49,554 shares during the period. New York State Teachers Retirement System owned approximately 0.06% of Monster Beverage worth $31,730,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company's stock valued at $3,837,867,000 after buying an additional 1,059,042 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Monster Beverage by 0.3% in the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company's stock valued at $691,182,000 after purchasing an additional 37,391 shares during the period. Janus Henderson Group PLC raised its stake in shares of Monster Beverage by 4.1% in the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company's stock worth $664,469,000 after purchasing an additional 440,962 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Monster Beverage by 93.9% during the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock worth $373,519,000 after purchasing an additional 3,620,436 shares during the period. Finally, William Blair Investment Management LLC boosted its position in Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company's stock valued at $288,082,000 after buying an additional 1,234,718 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Down 0.7 %

NASDAQ MNST traded down $0.38 during trading hours on Friday, reaching $52.30. The company had a trading volume of 6,324,908 shares, compared to its average volume of 6,942,626. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $51.23 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The stock has a 50-day moving average of $50.87 and a 200 day moving average of $51.02. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data 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 22.23% and a net margin of 22.84%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the previous year, the business posted $0.39 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial dropped their price objective on shares of Monster Beverage from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target on Monster Beverage from $63.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. UBS Group boosted their price objective on Monster Beverage from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, October 7th. Roth Mkm dropped their target price on Monster Beverage from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Finally, Bank of America lifted their price target on Monster Beverage from $56.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.68.

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.