Monster Beverage Co. (NASDAQ:MNST) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 23.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,534 shares of the company’s stock after selling 35,221 shares during the period. Texas Permanent School Fund Corp’s holdings in Monster Beverage were worth $5,871,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MNST. Edmond DE Rothschild Holding S.A. raised its holdings in Monster Beverage by 9.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,097 shares of the company’s stock worth $124,000 after buying an additional 189 shares during the period. Journey Advisory Group LLC lifted its stake in Monster Beverage by 4.1% in the 2nd quarter. Journey Advisory Group LLC now owns 4,970 shares of the company’s stock worth $248,000 after acquiring an additional 196 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Monster Beverage by 5.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after acquiring an additional 209 shares during the period. Crossmark Global Holdings Inc. grew its stake in Monster Beverage by 0.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after acquiring an additional 211 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Monster Beverage by 1.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 13,307 shares of the company’s stock valued at $789,000 after purchasing an additional 226 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MNST has been the subject of several research reports. TD Cowen decreased their price target on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Stifel Nicolaus decreased their target price on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Citigroup lowered their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company cut their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, BNP Paribas started coverage on Monster Beverage in a research note on Monday, June 24th. They issued an “underperform” rating and a $48.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $49.65 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $48.95 and a 200-day simple moving average of $52.54. The stock has a market capitalization of $51.72 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.25 and a beta of 0.74. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm earned $0.39 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that Monster Beverage Co. will post 1.66 earnings per share for the current year.

Monster Beverage Company Profile

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.