New York State Common Retirement Fund Has $52.30 Million Stock Position in Monster Beverage Corporation (NASDAQ:MNST)

New York State Common Retirement Fund reduced its holdings in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 893,671 shares of the company's stock after selling 203,161 shares during the period. New York State Common Retirement Fund owned about 0.09% of Monster Beverage worth $52,298,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. CreativeOne Wealth LLC lifted its position in shares of Monster Beverage by 1.9% in the fourth quarter. CreativeOne Wealth LLC now owns 11,838 shares of the company's stock worth $622,000 after purchasing an additional 217 shares in the last quarter. Conning Inc. lifted its position in Monster Beverage by 3.9% in the 1st quarter. Conning Inc. now owns 5,853 shares of the company's stock worth $343,000 after buying an additional 219 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of Monster Beverage by 4.6% during the 4th quarter. Level Four Advisory Services LLC now owns 4,996 shares of the company's stock valued at $263,000 after buying an additional 220 shares during the period. Dogwood Wealth Management LLC grew its holdings in shares of Monster Beverage by 1.8% during the 4th quarter. Dogwood Wealth Management LLC now owns 13,323 shares of the company's stock valued at $700,000 after acquiring an additional 233 shares in the last quarter. Finally, PDS Planning Inc increased its stake in shares of Monster Beverage by 5.7% in the fourth quarter. PDS Planning Inc now owns 4,340 shares of the company's stock worth $228,000 after acquiring an additional 235 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler lifted their price objective on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Citigroup lifted their price target on Monster Beverage from $64.00 to $70.00 and gave the company a "buy" rating in a report on Monday, April 14th. Redburn Atlantic cut Monster Beverage from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $63.00 to $60.00 in a research note on Wednesday, July 9th. TD Cowen increased their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Finally, UBS Group lifted their target price on shares of Monster Beverage from $62.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $61.87.

Insider Activity

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the completion of the transaction, the insider owned 89,501 shares of the company's stock, valued at $5,590,232.46. This represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Kelly sold 27,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total value of $1,711,800.00. Following the completion of the sale, the chief financial officer owned 69,273 shares of the company's stock, valued at $4,391,908.20. This represents a 28.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

MNST traded up $0.84 during midday trading on Monday, reaching $59.67. The company's stock had a trading volume of 5,659,975 shares, compared to its average volume of 6,160,123. The company has a current ratio of 3.37, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $62.45 and a 200 day simple moving average of $56.84. The stock has a market cap of $58.19 billion, a P/E ratio of 39.26, a PEG ratio of 2.09 and a beta of 0.59. Monster Beverage Corporation has a twelve month low of $43.32 and a twelve month high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a net margin of 20.27% and a return on equity of 27.46%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the company posted $0.42 earnings per share. Monster Beverage's quarterly revenue was down 2.3% on a year-over-year basis. Research analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Monster Beverage 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.