Employees Retirement System of Texas Reduces Stock Position in Monster Beverage Corporation $MNST

Key Points

• Employees Retirement System of Texas cut its Monster Beverage stake by 19.3%, selling 210,077 shares and now holds 879,575 shares worth about $59.2 million (≈0.09% of the company).
• Other institutions shifted positions — notably Capital Research Global Investors boosted its stake by 71.4% to 5,033,066 shares, and total institutional ownership is roughly 72.36%.
• Monster beat quarterly expectations with $0.51 EPS versus $0.49 and $2.10B revenue (up 17.6% YoY); analysts show a consensus "Moderate Buy" with a $84.14 price target.

Employees Retirement System of Texas lessened its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 19.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 879,575 shares of the company's stock after selling 210,077 shares during the quarter. Employees Retirement System of Texas owned approximately 0.09% of Monster Beverage worth $59,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MNST. Sei Investments Co. grew its holdings in shares of Monster Beverage by 17.4% in the third quarter. Sei Investments Co. now owns 584,524 shares of the company's stock worth $39,344,000 after purchasing an additional 86,801 shares during the last quarter. Kepler Cheuvreux Suisse SA purchased a new position in Monster Beverage in the 3rd quarter worth about $5,867,000. Quadrant Capital Group LLC lifted its holdings in Monster Beverage by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 12,896 shares of the company's stock valued at $868,000 after buying an additional 218 shares in the last quarter. Van ECK Associates Corp boosted its position in Monster Beverage by 2.0% in the 3rd quarter. Van ECK Associates Corp now owns 148,427 shares of the company's stock valued at $9,991,000 after buying an additional 2,882 shares during the period. Finally, Capital Research Global Investors boosted its position in Monster Beverage by 71.4% in the 3rd quarter. Capital Research Global Investors now owns 5,033,066 shares of the company's stock valued at $338,765,000 after buying an additional 2,096,575 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Performance

Shares of Monster Beverage stock opened at $76.99 on Friday. The company has a market capitalization of $75.22 billion, a PE ratio of 39.69, a P/E/G ratio of 2.51 and a beta of 0.44. The company has a 50-day simple moving average of $80.16 and a two-hundred day simple moving average of $73.25. Monster Beverage Corporation has a one year low of $54.17 and a one year high of $87.38.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same period last year, the business earned $0.39 EPS. The company's revenue was up 17.6% compared to the same quarter last year. On average, equities analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MNST shares. Roth Mkm reaffirmed a "neutral" rating and set a $70.00 target price on shares of Monster Beverage in a research report on Wednesday, December 3rd. Argus boosted their price target on Monster Beverage from $95.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. The Goldman Sachs Group increased their price objective on Monster Beverage from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Wednesday, December 3rd. BNP Paribas Exane upgraded Monster Beverage from an "underperform" rating to a "neutral" rating and set a $77.00 price objective on the stock in a report on Friday, January 16th. Finally, Bank of America lifted their target price on Monster Beverage from $77.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, December 19th. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.14.

Monster Beverage Company Profile

Monster Beverage Corporation NASDAQ: MNST is an American beverage company best known for its Monster Energy brand of energy drinks. The company's product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen's Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.

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