Public Sector Pension Investment Board Has $18.86 Million Position in Monster Beverage Corporation (NASDAQ:MNST)

Key Points

• The Public Sector Pension Investment Board increased its stake in Monster Beverage Corporation by 2.7% in Q1, now holding 322,289 shares valued at approximately $18.86 million.
• Institutional investors collectively own 72.36% of Monster Beverage's stock, with significant recent purchases from firms like SouthState Corp and Invesco Ltd, boosting their holdings substantially.
• Research analysts have mixed outlooks on Monster Beverage, with a range of price targets from $60.00 to $74.00 and an average rating of "Moderate Buy."

Public Sector Pension Investment Board boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,289 shares of the company's stock after purchasing an additional 8,394 shares during the quarter. Public Sector Pension Investment Board's holdings in Monster Beverage were worth $18,860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Motley Fool Asset Management LLC grew its holdings in Monster Beverage by 3.9% during the first quarter. Motley Fool Asset Management LLC now owns 52,895 shares of the company's stock valued at $3,095,000 after purchasing an additional 1,988 shares during the period. SouthState Corp boosted its holdings in shares of Monster Beverage by 37.2% in the first quarter. SouthState Corp now owns 1,873 shares of the company's stock valued at $110,000 after buying an additional 508 shares during the period. Nuveen LLC acquired a new position in shares of Monster Beverage in the first quarter valued at approximately $497,157,000. Aigen Investment Management LP acquired a new position in shares of Monster Beverage in the first quarter valued at approximately $389,000. Finally, Invesco Ltd. boosted its holdings in shares of Monster Beverage by 6.6% in the first quarter. Invesco Ltd. now owns 9,154,347 shares of the company's stock valued at $535,712,000 after buying an additional 563,353 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider directly owned 89,501 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the transaction, the chief financial officer owned 69,273 shares in the company, valued at approximately $4,391,908.20. This represents a 28.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on MNST. Rothschild & Co Redburn cut shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price target for the company. in a report on Wednesday, July 9th. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a report on Friday, June 13th. Citigroup upped their price target on shares of Monster Beverage from $70.00 to $74.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday. Finally, Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the company an "overweight" rating in a report on Friday. Two 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, Monster Beverage has an average rating of "Moderate Buy" and an average price target of $64.90.

Monster Beverage Stock Performance

NASDAQ MNST opened at $63.66 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 3.00 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $61.54 and its two-hundred day moving average price is $58.23. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $66.75. The firm has a market capitalization of $62.08 billion, a P/E ratio of 39.54, a price-to-earnings-growth ratio of 2.33 and a beta of 0.55.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the firm posted $0.41 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Company 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.

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