Monster Beverage Co. (NASDAQ:MNST) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,268,387 shares of the company's stock after selling 9,401 shares during the period. California State Teachers Retirement System owned 0.13% of Monster Beverage worth $66,666,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Monster Beverage in the 4th quarter valued at $442,642,000. CIBC Private Wealth Group LLC grew its stake in shares of Monster Beverage by 659.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,872,972 shares of the company's stock worth $251,445,000 after acquiring an additional 4,231,063 shares in the last quarter. Montrusco Bolton Investments Inc. grew its holdings in Monster Beverage by 250.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company's stock worth $178,801,000 after acquiring an additional 2,480,291 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Monster Beverage during the 4th quarter worth about $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Monster Beverage in the fourth quarter valued at $110,942,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 12,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.50, for a total value of $654,000.00. Following the sale, the director now directly owns 296,846 shares in the company, valued at approximately $16,178,107. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider now owns 89,501 shares of the company's stock, valued at $5,590,232.46. This represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,112 shares of company stock worth $12,033,838 over the last ninety days. Company insiders own 8.30% of the company's stock.

Monster Beverage Stock Up 0.0%

NASDAQ MNST traded up $0.03 during trading hours on Friday, reaching $63.67. 13,500,761 shares of the company traded hands, compared to its average volume of 6,799,253. The company has a 50 day moving average of $59.90 and a two-hundred day moving average of $54.87. The stock has a market capitalization of $62.09 billion, a PE ratio of 40.81, a PEG ratio of 2.28 and a beta of 0.63. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $64.45. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the company posted $0.42 EPS. The business's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MNST. Truist Financial upped their price objective on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on Monster Beverage from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a research note on Friday, February 28th. UBS Group increased their price objective on shares of Monster Beverage from $62.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Citigroup boosted their price target on Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Monster Beverage currently has an average rating of "Moderate Buy" and a consensus price target of $60.81.

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.