Canada Pension Plan Investment Board Sells 11,406 Shares of Monster Beverage Co. (NASDAQ:MNST)

Canada Pension Plan Investment Board trimmed its stake in Monster Beverage Co. (NASDAQ:MNST) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,486,467 shares of the company’s stock after selling 11,406 shares during the period. Canada Pension Plan Investment Board owned about 0.14% of Monster Beverage worth $74,249,000 as of its most recent SEC filing.

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

Monster Beverage Stock Performance

MNST opened at $51.18 on Friday. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The stock has a market cap of $53.32 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.28 and a beta of 0.74. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $61.22. The business has a 50 day moving average of $49.11 and a 200-day moving average of $52.27.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Wells Fargo & Company dropped their target price on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Citigroup reduced their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI cut their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They set an “underperform” rating and a $48.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.85.

About Monster Beverage

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.