Teachers Retirement System of The State of Kentucky Buys 28,903 Shares of Monster Beverage Co. (NASDAQ:MNST)

Teachers Retirement System of The State of Kentucky boosted its stake in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 387,901 shares of the company's stock after acquiring an additional 28,903 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Monster Beverage were worth $20,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Monster Beverage by 62.5% in 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 position in shares of Monster Beverage in the fourth quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $31,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Monster Beverage during the 4th quarter valued at approximately $33,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MNST has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Monster Beverage from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Wells Fargo & Company increased their price target on Monster Beverage from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Monster Beverage from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $59.00 target price on shares of Monster Beverage in a research report on Wednesday, January 22nd. Finally, Truist Financial lifted their price target on Monster Beverage from $40.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $57.89.

Insider Buying and Selling

In other Monster Beverage news, Director Mark J. Hall sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the completion of the sale, the director now owns 296,846 shares of the company's stock, valued at approximately $16,178,107. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the transaction, the insider now directly owns 76,201 shares in the company, valued at $4,220,011.38. The trade was a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,316 shares of company stock valued at $11,484,440 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Monster Beverage Trading Down 0.2 %

Shares of NASDAQ:MNST traded down $0.13 during midday trading on Wednesday, reaching $59.15. The company's stock had a trading volume of 4,994,186 shares, compared to its average volume of 7,074,147. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $60.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm has a 50 day moving average price of $56.11 and a two-hundred day moving average price of $53.30. The firm has a market capitalization of $57.56 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 2.28 and a beta of 0.64.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. As a group, analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Monster Beverage Company 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.