Alaska Permanent Fund Corp Sells 18,606 Shares of Monster Beverage Co. (NASDAQ:MNST)

Alaska Permanent Fund Corp decreased its holdings in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,819 shares of the company's stock after selling 18,606 shares during the period. Alaska Permanent Fund Corp's holdings in Monster Beverage were worth $2,064,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Monster Beverage by 20.3% during the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company's stock worth $1,033,323,000 after buying an additional 3,296,466 shares during the period. Northern Trust Corp raised its holdings in Monster Beverage by 3.3% during the third quarter. Northern Trust Corp now owns 7,638,653 shares of the company's stock worth $404,467,000 after purchasing an additional 243,401 shares in the last quarter. Nordea Investment Management AB raised its holdings in Monster Beverage by 6.2% during the third quarter. Nordea Investment Management AB now owns 5,211,419 shares of the company's stock worth $278,238,000 after purchasing an additional 305,086 shares in the last quarter. American Century Companies Inc. raised its holdings in Monster Beverage by 33.5% during the third quarter. American Century Companies Inc. now owns 3,782,074 shares of the company's stock worth $200,261,000 after purchasing an additional 948,133 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Monster Beverage by 61.5% during the third quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company's stock worth $181,713,000 after purchasing an additional 1,307,482 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Insiders Place Their Bets

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the sale, the director now directly owns 777,840 shares of the company's stock, valued at approximately $45,542,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on MNST shares. Jefferies Financial Group increased their price target on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Truist Financial cut shares of Monster Beverage from a "buy" rating to a "sell" rating and cut their price target for the stock from $65.00 to $46.00 in a report on Thursday. JPMorgan Chase & Co. cut shares of Monster Beverage from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $66.00 to $59.00 in a report on Thursday. BMO Capital Markets increased their price target on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a "market perform" rating in a report on Wednesday, January 17th. Finally, UBS Group lifted their price target on shares of Monster Beverage from $62.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. One analyst has 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. According to data from MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and an average target price of $61.79.

Monster Beverage Stock Up 0.4 %

Shares of Monster Beverage stock traded up $0.22 during trading on Friday, hitting $53.37. 4,204,562 shares of the company were exchanged, compared to its average volume of 5,386,807. Monster Beverage Co. has a fifty-two week low of $47.13 and a fifty-two week high of $61.22. The stock has a market capitalization of $55.54 billion, a price-to-earnings ratio of 34.34, a P/E/G ratio of 2.22 and a beta of 0.72. The firm has a 50 day moving average price of $57.00 and a 200 day moving average price of $55.57.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.76 billion. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. Monster Beverage's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. Analysts predict that Monster Beverage Co. will post 1.81 earnings per share 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.