California State Teachers Retirement System cut its stake in Monster Beverage Corporation (NASDAQ:MNST) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 766,276 shares of the company’s stock after selling 65,313 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of Monster Beverage Corporation worth $38,069,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Huntington National Bank lifted its stake in Monster Beverage Corporation by 42.2% in the 2nd quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after buying an additional 633 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Monster Beverage Corporation by 11.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after purchasing an additional 232 shares in the last quarter. Sun Life Financial INC lifted its stake in Monster Beverage Corporation by 29,250.0% in the 2nd quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after purchasing an additional 2,925 shares in the last quarter. Dynamic Advisors Solutions LLC purchased a new position in Monster Beverage Corporation in the 2nd quarter worth approximately $202,000. Finally, Fiduciary Trust Co. purchased a new position in Monster Beverage Corporation in the 2nd quarter worth approximately $212,000. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on MNST. Zacks Investment Research lowered shares of Monster Beverage Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $42.00 target price (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Cowen and Company reissued an “outperform” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research note on Thursday, June 22nd. BMO Capital Markets reissued a “buy” rating and issued a $58.00 target price on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. Finally, Jefferies Group LLC raised their target price on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $56.86.
In related news, Director Sydney Selati sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director now owns 52,000 shares of the company’s stock, valued at $2,912,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded up 0.04% during mid-day trading on Friday, hitting $55.98. 159,038 shares of the stock were exchanged. The stock has a market cap of $31.81 billion, a PE ratio of 42.34 and a beta of 1.02. The company has a 50-day moving average of $55.74 and a 200 day moving average of $51.17. Monster Beverage Corporation has a one year low of $40.64 and a one year high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company had revenue of $907.07 million for the quarter, compared to analyst estimates of $901.38 million. During the same period last year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current year.
Monster Beverage Corporation Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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