New York State Common Retirement Fund trimmed its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,113,832 shares of the company's stock after selling 49,303 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Monster Beverage worth $58,109,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company's stock worth $3,837,867,000 after buying an additional 1,059,042 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Monster Beverage by 0.3% during the first quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company's stock worth $691,182,000 after purchasing an additional 37,391 shares during the period. Janus Henderson Group PLC grew its position in Monster Beverage by 4.1% during the first quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company's stock valued at $664,469,000 after purchasing an additional 440,962 shares in the last quarter. Ninety One UK Ltd increased its stake in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock valued at $373,519,000 after buying an additional 3,620,436 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in shares of Monster Beverage by 34.1% during the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company's stock worth $288,082,000 after acquiring an additional 1,234,718 shares in the last quarter. Institutional investors own 72.36% of the company's stock.
Monster Beverage Price Performance
Shares of MNST stock traded down $0.38 during mid-day trading on Friday, reaching $52.30. The company's stock had a trading volume of 6,325,111 shares, compared to its average volume of 6,942,626. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.69 and a current ratio of 3.41. The firm's 50-day moving average is $50.98 and its two-hundred day moving average is $50.99. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market cap of $51.23 billion, a P/E ratio of 32.48, a PEG ratio of 2.39 and a beta of 0.74.
Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $2.01 billion. During the same quarter last year, the business earned $0.39 EPS. Monster Beverage's quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that Monster Beverage Co. will post 1.66 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on MNST shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Evercore ISI cut their price objective on Monster Beverage from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. TD Cowen decreased their target price on Monster Beverage from $60.00 to $55.00 and set a "hold" rating for the company in a research report on Monday, July 15th. Citigroup reduced their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Jefferies Financial Group lowered their target price on shares of Monster Beverage from $61.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.68.
Check Out Our Latest Stock Analysis on MNST
Monster Beverage Company Profile
(
Free Report)
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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