Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky raised its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,901 shares of the company's stock after purchasing an additional 28,903 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Monster Beverage were worth $20,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MNST. Pine Valley Investments Ltd Liability Co increased its position in Monster Beverage by 10.4% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,071 shares of the company's stock valued at $369,000 after purchasing an additional 664 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Monster Beverage during the third quarter valued at approximately $307,000. Peapack Gladstone Financial Corp boosted its position in Monster Beverage by 22.9% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 6,064 shares of the company's stock valued at $316,000 after acquiring an additional 1,131 shares in the last quarter. American Trust bought a new position in shares of Monster Beverage in the 3rd quarter worth $687,000. Finally, Principal Financial Group Inc. boosted its position in Monster Beverage by 11.6% during the third quarter. Principal Financial Group Inc. now owns 1,363,935 shares of the company's stock valued at $71,156,000 after purchasing an additional 141,495 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 76,201 shares in the company, valued at approximately $4,220,011.38. This represents a 54.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.27, for a total value of $552,700.00. Following the transaction, the chief financial officer now owns 72,273 shares in the company, valued at approximately $3,994,528.71. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock valued at $11,484,440 over the last ninety days. Insiders own 7.80% of the company's stock.

Monster Beverage Price Performance

NASDAQ:MNST traded up $0.08 during trading hours on Friday, reaching $58.67. 3,898,245 shares of the company were exchanged, compared to its average volume of 7,046,508. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The firm has a market cap of $57.10 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $60.34. The stock's 50-day moving average is $56.45 and its 200-day moving average is $53.43.

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

Wall Street Analysts Forecast Growth

MNST has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Monster Beverage from $51.00 to $53.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Truist Financial upped their price target on Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday. Bank of America upped their target price on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company raised their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley upped 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $58.39.

About Monster Beverage

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.