New York State Teachers Retirement System Has $31.15 Million Stock Position in Monster Beverage Corporation (NASDAQ:MNST)

New York State Teachers Retirement System lessened its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 532,291 shares of the company's stock after selling 66,207 shares during the period. New York State Teachers Retirement System owned about 0.05% of Monster Beverage worth $31,150,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Monster Beverage during the 4th quarter valued at $442,642,000. CIBC Private Wealth Group LLC lifted its position 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 buying an additional 4,231,063 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Monster Beverage by 5,095.6% during the first quarter. Assenagon Asset Management S.A. now owns 3,063,351 shares of the company's stock worth $179,267,000 after purchasing an additional 3,004,391 shares during the period. Champlain Investment Partners LLC acquired a new position in Monster Beverage in the 4th quarter valued at $121,575,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Monster Beverage in the fourth quarter worth about $110,942,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction dated 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 directly owned 89,501 shares of the company's stock, valued at $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the transaction, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This trade represents a 28.05% decrease in their position. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded down $0.50 during mid-day trading on Wednesday, hitting $63.04. 5,051,599 shares of the stock were exchanged, compared to its average volume of 6,002,063. Monster Beverage Corporation has a twelve month low of $43.32 and a twelve month high of $64.45. The stock's fifty day simple moving average is $62.12 and its two-hundred day simple moving average is $56.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.78 and a current ratio of 3.37. The company has a market cap of $61.48 billion, a P/E ratio of 41.47, a PEG ratio of 2.22 and a beta of 0.59.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. 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 earned $0.42 EPS. Monster Beverage's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Analyst Ratings Changes

MNST has been the topic of several research analyst reports. Piper Sandler raised their price objective on shares of Monster Beverage from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Morgan Stanley increased their price target on shares of Monster Beverage from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Jefferies Financial Group boosted their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. TD Cowen upped their price objective on shares of Monster Beverage from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group increased their target price on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.05.

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.