State of Tennessee Treasury Department Increases Holdings in Monster Beverage Co. (NASDAQ:MNST)

State of Tennessee Treasury Department increased its position in Monster Beverage Co. (NASDAQ:MNSTFree Report) by 89.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 360,076 shares of the company’s stock after buying an additional 169,621 shares during the period. State of Tennessee Treasury Department’s holdings in Monster Beverage were worth $20,744,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MNST. Headinvest LLC purchased a new stake in shares of Monster Beverage in the third quarter worth about $28,000. Catalyst Capital Advisors LLC raised its position in Monster Beverage by 34.6% during the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock valued at $41,000 after purchasing an additional 199 shares during the period. Quent Capital LLC raised its position in Monster Beverage by 40.8% during the fourth quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock valued at $68,000 after purchasing an additional 342 shares during the period. Huntington National Bank raised its position in Monster Beverage by 56.3% during the third quarter. Huntington National Bank now owns 1,644 shares of the company’s stock valued at $87,000 after purchasing an additional 592 shares during the period. Finally, Annapolis Financial Services LLC raised its position in Monster Beverage by 272.5% during the fourth quarter. Annapolis Financial Services LLC now owns 1,542 shares of the company’s stock valued at $89,000 after purchasing an additional 1,128 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group decreased their price objective on Monster Beverage from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. BMO Capital Markets cut their target price on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada upped their target price on Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group upped their target price on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.32.

Read Our Latest Research Report on MNST

Monster Beverage Trading Down 3.2 %

Shares of MNST opened at $51.00 on Tuesday. Monster Beverage Co. has a 12 month low of $47.13 and a 12 month high of $61.22. The stock has a fifty day moving average price of $53.81 and a 200-day moving average price of $55.83. The firm has a market cap of $53.13 billion, a PE ratio of 32.08, a P/E/G ratio of 2.21 and a beta of 0.76.

Monster Beverage (NASDAQ:MNSTGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. As a group, research analysts forecast that Monster Beverage Co. will post 1.77 EPS for the current year.

About Monster Beverage

(Free Report)

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.

Further Reading

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

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