Teachers Retirement System of The State of Kentucky Acquires 4,918 Shares of Monster Beverage Corporation (NASDAQ:MNST)

Teachers Retirement System of The State of Kentucky increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392,819 shares of the company's stock after buying an additional 4,918 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Monster Beverage were worth $22,988,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Wayfinding Financial LLC bought a new position in shares of Monster Beverage in the 1st quarter worth about $29,000. Park Square Financial Group LLC acquired a new position in shares of Monster Beverage in the 4th quarter worth approximately $36,000. Coppell Advisory Solutions LLC grew its stake in shares of Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after purchasing an additional 495 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Monster Beverage by 37.1% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company's stock worth $42,000 after purchasing an additional 196 shares during the last quarter. Finally, CVA Family Office LLC boosted its holdings in shares of Monster Beverage by 28.6% in the first quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock worth $89,000 after buying an additional 338 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Down 0.9%

NASDAQ MNST traded down $0.53 during trading hours on Wednesday, reaching $59.06. 1,270,152 shares of the company's stock were exchanged, compared to its average volume of 5,973,424. The company's 50-day moving average is $62.30 and its two-hundred day moving average is $57.07. Monster Beverage Corporation has a one year low of $43.32 and a one year high of $64.45. 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 capitalization of $57.60 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 2.14 and a beta of 0.59.

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

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were 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 directly owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was 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 company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on MNST. TD Cowen boosted 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. UBS Group boosted their price objective on shares of Monster Beverage from $63.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Rothschild & Co Redburn downgraded shares of Monster Beverage from a "buy" rating to a "neutral" rating and set a $60.00 price objective on the stock. in a research report on Wednesday, July 9th. Bank of America raised their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, Roth Capital lifted their price target on shares of Monster Beverage from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.91.

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.