Teacher Retirement System of Texas Increases Stock Position in Monster Beverage Corporation $MNST

Teacher Retirement System of Texas boosted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 631,008 shares of the company’s stock after acquiring an additional 8,438 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Monster Beverage worth $39,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Monster Beverage by 1.8% in the first quarter. Vanguard Group Inc. now owns 64,786,624 shares of the company’s stock valued at $3,791,313,000 after acquiring an additional 1,151,175 shares during the last quarter. Invesco Ltd. lifted its position in Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company’s stock valued at $535,712,000 after acquiring an additional 563,353 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Monster Beverage by 4.9% in the second quarter. Ninety One UK Ltd now owns 8,944,479 shares of the company’s stock valued at $560,282,000 after buying an additional 418,918 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Monster Beverage in the first quarter valued at about $497,157,000. Finally, Northern Trust Corp raised its holdings in shares of Monster Beverage by 1.0% in the first quarter. Northern Trust Corp now owns 7,431,658 shares of the company’s stock valued at $434,901,000 after buying an additional 73,737 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler raised shares of Monster Beverage from a “neutral” rating to an “overweight” rating and upped their target price for the company from $54.00 to $74.00 in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Monster Beverage from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Redburn Atlantic cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating and reduced their target price for the company from $63.00 to $60.00 in a report on Wednesday, July 9th. Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $79.00 target price (up from $76.00) on shares of Monster Beverage in a report on Thursday, October 9th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.43.

Insider Activity

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 51,191 shares of the company’s stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

Monster Beverage Trading Down 0.0%

Shares of MNST opened at $69.68 on Tuesday. The firm’s 50-day moving average is $65.78 and its two-hundred day moving average is $62.90. The firm 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 Corporation has a twelve month low of $45.70 and a twelve month high of $70.72.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. Analysts predict that Monster Beverage Corporation will post 1.62 EPS 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.