Texas Permanent School Fund Corp Decreases Stake in Monster Beverage Corporation $MNST

Texas Permanent School Fund Corp cut its stake in Monster Beverage Corporation (NASDAQ:MNST) by 42.6% in the second quarter, Holdings Channel reports. The firm owned 79,316 shares of the company’s stock after selling 58,922 shares during the period. Texas Permanent School Fund Corp’s holdings in Monster Beverage were worth $4,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Access Investment Management LLC acquired a new stake in shares of Monster Beverage during the second quarter worth $25,000. Salomon & Ludwin LLC purchased a new position in Monster Beverage in the 2nd quarter worth $28,000. Newbridge Financial Services Group Inc. lifted its position in Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares during the period. Golden State Wealth Management LLC grew its stake in Monster Beverage by 647.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock valued at $35,000 after purchasing an additional 479 shares during the last quarter. Finally, Webster Bank N. A. acquired a new position in shares of Monster Beverage in the second quarter valued at about $38,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $74.33 on Thursday. The company has a market capitalization of $72.62 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 2.26 and a beta of 0.48. The company’s fifty day moving average price is $71.22 and its 200 day moving average price is $65.81. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $76.28.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s revenue was up 16.8% compared to the same quarter last year. On average, equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Roth Capital reaffirmed a “neutral” rating and set a $70.00 target price on shares of Monster Beverage in a report on Wednesday, December 3rd. Citigroup restated a “buy” rating and set a $87.00 price objective (up from $82.00) on shares of Monster Beverage in a research note on Wednesday. Wall Street Zen raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Bank of America raised their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, UBS Group upped their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares of the company’s stock, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider owned 21,993 shares of the company’s stock, valued at $1,568,760.69. This trade represents a 63.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 274,981 shares of company stock worth $20,138,516. 8.30% of the stock is owned by corporate insiders.

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.