State of Michigan Retirement System Has $16.45 Million Stock Holdings in Celsius Holdings, Inc. (NASDAQ:CELH)

State of Michigan Retirement System cut its stake in Celsius Holdings, Inc. (NASDAQ:CELH) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,400 shares of the company’s stock after selling 17,200 shares during the period. State of Michigan Retirement System’s holdings in Celsius were worth $16,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CELH. Allspring Global Investments Holdings LLC increased its stake in shares of Celsius by 14.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,631,651 shares of the company’s stock valued at $135,297,000 after purchasing an additional 209,284 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Celsius in the 1st quarter valued at about $412,000. Griffin Asset Management Inc. bought a new stake in shares of Celsius in the 1st quarter valued at about $387,000. New England Research & Management Inc. acquired a new position in shares of Celsius in the 1st quarter valued at about $471,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Celsius by 1,878.3% in the 1st quarter. Sunbelt Securities Inc. now owns 2,374 shares of the company’s stock valued at $197,000 after purchasing an additional 2,254 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Celsius

In other Celsius news, major shareholder William H. Milmoe sold 428,574 shares of Celsius stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $59.67, for a total transaction of $25,573,010.58. Following the completion of the sale, the insider now owns 23,964,450 shares of the company’s stock, valued at $1,429,958,731.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Jarrod Langhans sold 4,079 shares of Celsius stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $69.42, for a total value of $283,164.18. Following the transaction, the chief financial officer now owns 83,670 shares in the company, valued at $5,808,371.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder William H. Milmoe sold 428,574 shares of Celsius stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $59.67, for a total value of $25,573,010.58. Following the completion of the transaction, the insider now owns 23,964,450 shares in the company, valued at approximately $1,429,958,731.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,776,696 shares of company stock valued at $107,920,209. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CELH shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $68.00 price target on shares of Celsius in a research note on Tuesday, June 25th. BNP Paribas began coverage on Celsius in a research note on Monday, June 24th. They issued an “outperform” rating and a $87.00 price objective for the company. Bank of America increased their price objective on Celsius from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 29th. Roth Mkm lowered their price objective on Celsius from $96.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Finally, TD Cowen reduced their target price on Celsius from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Celsius has an average rating of “Moderate Buy” and an average price target of $81.82.

Celsius Stock Performance

NASDAQ:CELH opened at $57.24 on Wednesday. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 62.90, a P/E/G ratio of 1.65 and a beta of 1.91. Celsius Holdings, Inc. has a 52-week low of $45.03 and a 52-week high of $99.62. The stock has a fifty day moving average of $74.47 and a 200 day moving average of $70.42.

Celsius (NASDAQ:CELH) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The company had revenue of $355.70 million during the quarter, compared to analyst estimates of $390.37 million. Celsius had a return on equity of 111.29% and a net margin of 18.63%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. Equities analysts forecast that Celsius Holdings, Inc. will post 1.07 earnings per share for the current fiscal year.

Celsius Company Profile

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.