Monster Beverage Corp (MNST) Holdings Reduced by Arizona State Retirement System

Arizona State Retirement System lowered its stake in Monster Beverage Corp (NASDAQ:MNST) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,963 shares of the company’s stock after selling 6,294 shares during the quarter. Arizona State Retirement System’s holdings in Monster Beverage were worth $9,148,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MNST. BlackRock Inc. lifted its position in shares of Monster Beverage by 2.6% during the second quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock worth $1,365,558,000 after purchasing an additional 604,939 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Monster Beverage by 24.4% during the second quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after purchasing an additional 1,071,066 shares in the last quarter. Northern Trust Corp lifted its position in shares of Monster Beverage by 2.5% during the second quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after purchasing an additional 121,766 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Monster Beverage by 10.6% during the second quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after purchasing an additional 423,841 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Monster Beverage by 414.7% during the second quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock worth $245,188,000 after purchasing an additional 3,447,585 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on MNST. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research raised shares of Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Friday, July 20th. Jefferies Financial Group increased their price target on shares of Monster Beverage from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Finally, Citigroup increased their price target on shares of Monster Beverage from $62.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $65.06.

In related news, insider Emelie Tirre sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the sale, the insider now directly owns 46,847 shares in the company, valued at $2,853,450.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.70% of the stock is currently owned by corporate insiders.

MNST stock opened at $54.10 on Friday. Monster Beverage Corp has a fifty-two week low of $47.61 and a fifty-two week high of $70.21. The company has a market cap of $29.89 billion, a P/E ratio of 33.40, a PEG ratio of 1.95 and a beta of 1.36.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. Monster Beverage had a net margin of 25.27% and a return on equity of 24.39%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts predict that Monster Beverage Corp will post 1.73 EPS for the current fiscal year.

Monster Beverage declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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