California Public Employees Retirement System Acquires 38,340 Shares of Monster Beverage Corporation $MNST

California Public Employees Retirement System increased its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 1,362,966 shares of the company’s stock after acquiring an additional 38,340 shares during the quarter. California Public Employees Retirement System’s holdings in Monster Beverage were worth $91,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Physician Wealth Advisors Inc. lifted its holdings in Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock valued at $25,000 after purchasing an additional 315 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Monster Beverage in the third quarter valued at $27,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the last quarter. First Horizon Corp bought a new position in shares of Monster Beverage in the third quarter valued at about $29,000. Finally, Armstrong Advisory Group Inc. raised its position in shares of Monster Beverage by 49.0% in the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after purchasing an additional 146 shares during the period. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MNST. JPMorgan Chase & Co. lifted their target price on shares of Monster Beverage from $79.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Monster Beverage from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 27th. Roth Mkm restated a “neutral” rating and set a $70.00 price objective on shares of Monster Beverage in a research report on Wednesday, December 3rd. Royal Bank Of Canada boosted their price objective on Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.95.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $77.05 on Tuesday. The business has a fifty day moving average price of $80.20 and a two-hundred day moving average price of $73.62. The stock has a market capitalization of $75.28 billion, a PE ratio of 39.72, a P/E/G ratio of 2.49 and a beta of 0.44. Monster Beverage Corporation has a fifty-two week low of $54.73 and a fifty-two week high of $87.38.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the firm posted $0.39 EPS. Monster Beverage’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.