88,012 Monster Beverage Corporation $MNST Shares Purchased by Oregon Public Employees Retirement Fund

Key Points

• Oregon Public Employees Retirement Fund increased its Monster Beverage stake by 100.3% in the third quarter, buying 88,012 shares. It held 175,804 shares valued at $7.3 million at the time of its latest filing.
• Monster reported quarterly earnings of $0.60 per share, beating the $0.58 consensus estimate, while revenue of $2.50 billion topped forecasts and rose 20.2% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $71.86; 15 analysts rated the stock Buy, eight Hold, and one Strong Buy.

Oregon Public Employees Retirement Fund increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 100.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,804 shares of the company's stock after acquiring an additional 88,012 shares during the quarter. Oregon Public Employees Retirement Fund's holdings in Monster Beverage were worth $7,317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MNST. BlackRock Inc. acquired a new stake in Monster Beverage in the second quarter valued at approximately $5,770,004,000. Ninety One UK Ltd increased its position in shares of Monster Beverage by 89.1% during the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock worth $545,444,000 after purchasing an additional 6,175,047 shares in the last quarter. Bank of America Corp DE increased its position in shares of Monster Beverage by 0.8% during the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company's stock worth $908,102,000 after purchasing an additional 99,168 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Monster Beverage by 23.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company's stock worth $553,414,000 after purchasing an additional 1,461,167 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Monster Beverage by 27.8% during the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company's stock valued at $717,629,000 after purchasing an additional 1,624,416 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Monster Beverage Trading Up 3.3%

NASDAQ MNST opened at $48.75 on Thursday. The company has a fifty day simple moving average of $44.73 and a two-hundred day simple moving average of $43.23. The stock has a market cap of $95.50 billion, a P/E ratio of 45.14, a P/E/G ratio of 2.97 and a beta of 0.51. Monster Beverage Corporation has a 12-month low of $32.94 and a 12-month high of $50.17.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Monster Beverage from $49.50 to $49.00 and set a "neutral" rating for the company in a research report on Monday, October 26th. UBS Group upped their target price on Monster Beverage from $52.00 to $52.50 and gave the company a "neutral" rating in a research report on Friday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $48.50 price target (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $50.00 price target (up from $48.00) on shares of Monster Beverage in a report on Monday, October 26th. Finally, The Goldman Sachs Group boosted their price target on Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.86.

Monster Beverage Profile

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.

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