Public Employees Retirement Association of Colorado Reduces Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)
Public Employees Retirement Association of Colorado reduced its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,487 shares of the company’s stock after selling 527 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Monster Beverage were worth $5,974,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in MNST. Jacobi Capital Management LLC raised its holdings in shares of Monster Beverage by 1,073.0% during the 2nd quarter. Jacobi Capital Management LLC now owns 4,387 shares of the company’s stock valued at $26,000 after buying an additional 4,013 shares during the period. Virtus ETF Advisers LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter valued at about $26,000. Prospera Financial Services Inc purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at about $34,000. Newfound Research LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter valued at about $36,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Monster Beverage by 120.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 557 shares of the company’s stock valued at $39,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 63.92% of the company’s stock.
Several equities research analysts recently commented on the company. Credit Suisse Group raised their target price on Monster Beverage from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Monster Beverage from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Stifel Nicolaus raised their price objective on Monster Beverage from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 27th. They noted that the move was a valuation call. SunTrust Banks raised their price objective on Monster Beverage from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Zacks Investment Research lowered Monster Beverage from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a research note on Tuesday, October 6th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $84.14.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 5th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.22 billion. Monster Beverage had a return on equity of 27.95% and a net margin of 26.57%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that Monster Beverage Co. will post 2.26 EPS for the current year.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, non-carbonated energy teas, non-carbonated energy drinks, and ready-to-drink packaged energy drinks primarily to bottlers and 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 bottling and canning operations.
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