Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in Monster Beverage Co. (NASDAQ:MNST) by 9,260.6% in the second quarter, HoldingsChannel reports. The fund owned 1,041,275 shares of the company’s stock after acquiring an additional 1,030,151 shares during the quarter. Public Sector Pension Investment Board’s holdings in Monster Beverage were worth $52,012,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MNST. Epoch Investment Partners Inc. lifted its stake in Monster Beverage by 9.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 3,174,103 shares of the company’s stock valued at $158,546,000 after buying an additional 275,209 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Monster Beverage by 351.4% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 31,701 shares of the company’s stock valued at $1,583,000 after acquiring an additional 24,678 shares during the period. Frank Rimerman Advisors LLC grew its position in Monster Beverage by 12,919.4% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,072 shares of the company’s stock worth $403,000 after purchasing an additional 8,010 shares during the last quarter. Alaethes Wealth LLC lifted its holdings in shares of Monster Beverage by 3.6% during the second quarter. Alaethes Wealth LLC now owns 28,377 shares of the company’s stock worth $1,417,000 after purchasing an additional 984 shares during the period. Finally, Pacer Advisors Inc. grew its position in Monster Beverage by 21.7% during the second quarter. Pacer Advisors Inc. now owns 121,150 shares of the company’s stock worth $6,051,000 after buying an additional 21,572 shares during the period. 72.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on MNST shares. BMO Capital Markets lowered their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup cut their price objective on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. BNP Paribas began coverage on Monster Beverage in a report on Monday, June 24th. They issued an “underperform” rating and a $48.00 price target for the company. Finally, TD Cowen dropped their price objective on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Two 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.85.

Monster Beverage Stock Down 1.3 %

NASDAQ MNST opened at $51.18 on Monday. The stock’s 50 day simple moving average is $49.11 and its 200 day simple moving average is $52.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. Monster Beverage Co. has a one year low of $43.32 and a one year high of $61.22. The firm has a market cap of $53.32 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 2.28 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced 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 net margin of 22.84% and a return on equity of 22.23%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business posted $0.39 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Monster Beverage Co. will post 1.66 earnings per share for the current fiscal 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.