State of Tennessee Department of Treasury Lowers Holdings in Monster Beverage Co. (NASDAQ:MNST)

State of Tennessee Department of Treasury lessened its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 218,224 shares of the company's stock after selling 10,338 shares during the quarter. State of Tennessee Department of Treasury's holdings in Monster Beverage were worth $11,470,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MNST. Norges Bank purchased a new stake in Monster Beverage during the fourth quarter valued at approximately $442,642,000. CIBC Private Wealth Group LLC grew its stake in Monster Beverage by 659.1% during the 4th 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. Montrusco Bolton Investments Inc. increased its position in Monster Beverage by 250.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 3,468,660 shares of the company's stock valued at $178,801,000 after buying an additional 2,480,291 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Monster Beverage during the fourth quarter worth about $121,575,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Monster Beverage during the fourth quarter valued at about $106,882,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Stock Up 0.6 %

Monster Beverage stock traded up $0.37 during mid-day trading on Tuesday, hitting $58.86. The company had a trading volume of 537,323 shares, compared to its average volume of 7,016,391. The stock has a market cap of $57.28 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.28 and a beta of 0.64. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $60.34. The business has a fifty day moving average of $56.59 and a 200 day moving average of $53.53.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. On average, sell-side analysts expect that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Monster Beverage from $57.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Morgan Stanley raised their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Truist Financial boosted their price objective on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $58.39.

Insiders Place Their Bets

In other news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares in the company, valued at $4,220,011.38. This represents a 54.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Guy Carling sold 47,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction of $2,585,940.00. Following the transaction, the insider now directly owns 21,993 shares of the company's stock, valued at approximately $1,210,054.86. This trade represents a 68.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,316 shares of company stock valued at $11,484,440. 7.80% of the stock is owned by company insiders.

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.