New York State Teachers Retirement System Has $48.84 Million Stock Position in Monster Beverage Corporation $MNST

Key Points

• New York State Teachers Retirement System raised its Q4 stake in Monster Beverage by 3.4% to 637,066 shares, worth about $48.84 million (roughly 0.07% of the company).
• Monster beat expectations in its latest quarter with $0.51 EPS (vs. $0.49 est.), $2.10B revenue (up 17.6% YoY) and strong profitability (net margin ~23%).
• Analyst sentiment is moderately bullish: MarketBeat shows a "Moderate Buy" consensus with 14 Buy ratings, 8 Hold ratings, and an average target price near $84.55.

New York State Teachers Retirement System grew its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 637,066 shares of the company's stock after acquiring an additional 21,169 shares during the period. New York State Teachers Retirement System owned about 0.07% of Monster Beverage worth $48,844,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MNST. Harbor Investment Advisory LLC lifted its holdings in Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company's stock worth $27,000 after buying an additional 205 shares during the period. Physician Wealth Advisors Inc. increased its stake in shares of Monster Beverage by 508.1% in the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company's stock valued at $25,000 after buying an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in shares of Monster Beverage during the third quarter worth about $27,000. First Horizon Corp bought a new position in shares of Monster Beverage during the third quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company's stock worth $28,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Up 0.1%

NASDAQ:MNST opened at $77.12 on Friday. The company has a fifty day moving average of $76.62 and a 200-day moving average of $75.69. The firm has a market capitalization of $75.42 billion, a P/E ratio of 39.75, a P/E/G ratio of 2.70 and a beta of 0.51. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $87.38.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. Monster Beverage's revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, analysts anticipate that Monster Beverage Corporation will post 2.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Argus increased their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Stifel Nicolaus reduced their price objective on shares of Monster Beverage from $92.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Zacks Research cut shares of Monster Beverage from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Citigroup lifted their target price on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Finally, Morgan Stanley restated an "overweight" rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a report on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $84.55.

Monster Beverage 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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