Retirement Systems of Alabama Lowers Stake in Monster Beverage Co. (NASDAQ:MNST)

Retirement Systems of Alabama lowered its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 711,834 shares of the company's stock after selling 54,295 shares during the period. Retirement Systems of Alabama owned about 0.07% of Monster Beverage worth $37,136,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Monster Beverage by 109.3% in the 3rd quarter. Janus Henderson Group PLC now owns 22,559,092 shares of the company's stock valued at $1,176,913,000 after purchasing an additional 11,779,162 shares in the last quarter. Ninety One UK Ltd grew its holdings in Monster Beverage by 93.9% in the second quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock valued at $373,519,000 after purchasing an additional 3,620,436 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Monster Beverage by 1,148.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company's stock valued at $135,480,000 after buying an additional 2,388,798 shares in the last quarter. State Street Corp raised its stake in shares of Monster Beverage by 6.9% during the 3rd quarter. State Street Corp now owns 33,742,390 shares of the company's stock worth $1,760,341,000 after buying an additional 2,168,379 shares during the period. Finally, Holocene Advisors LP purchased a new position in shares of Monster Beverage during the 3rd quarter valued at approximately $73,600,000. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Down 0.3 %

Shares of NASDAQ MNST traded down $0.16 during midday trading on Friday, reaching $52.76. 4,695,371 shares of the stock were exchanged, compared to its average volume of 6,802,524. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The stock has a market capitalization of $51.31 billion, a P/E ratio of 33.82, a PEG ratio of 2.49 and a beta of 0.74. The company has a 50 day simple moving average of $53.41 and a 200 day simple moving average of $51.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Wall Street Analyst Weigh In

Several brokerages recently commented on MNST. TD Cowen boosted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. UBS Group lifted their price objective on Monster Beverage from $55.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Argus boosted their price objective on Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on Monster Beverage from $50.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.45.

About Monster Beverage

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.