Monster Beverage Corporation $MNST Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 631,008 shares of the company’s stock after purchasing an additional 8,438 shares during the period. Teacher Retirement System of Texas’ holdings in Monster Beverage were worth $39,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MNST. Salomon & Ludwin LLC acquired a new position in Monster Beverage during the 2nd quarter valued at about $28,000. Wayfinding Financial LLC acquired a new position in Monster Beverage during the 1st quarter valued at about $29,000. Webster Bank N. A. acquired a new position in Monster Beverage during the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock worth $42,000 after acquiring an additional 196 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Monster Beverage in the 1st quarter worth approximately $43,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Rothschild & Co Redburn lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Wednesday, July 9th. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the stock an “overweight” rating in a research note on Friday, August 8th. UBS Group upped their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $60.00 price target (up from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.43.

Monster Beverage Price Performance

NASDAQ MNST opened at $69.68 on Tuesday. Monster Beverage Corporation has a 12 month low of $45.70 and a 12 month high of $70.72. The company’s 50 day simple moving average is $65.78 and its 200 day simple moving average is $62.90. The company has a market capitalization of $68.04 billion, a P/E ratio of 43.28, a PEG ratio of 2.42 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark Vidergauz sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at $3,262,402.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is currently owned by insiders.

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.