Canada Pension Plan Investment Board Has $74.25 Million Holdings in Monster Beverage Co. (NASDAQ:MNST)

Canada Pension Plan Investment Board decreased its holdings in Monster Beverage Co. (NASDAQ:MNST) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,486,467 shares of the company’s stock after selling 11,406 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Monster Beverage were worth $74,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its position in Monster Beverage by 16.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 29,404 shares of the company’s stock worth $1,468,000 after buying an additional 4,143 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of Monster Beverage by 0.3% during the 2nd quarter. Ieq Capital LLC now owns 68,735 shares of the company’s stock worth $3,433,000 after purchasing an additional 232 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Monster Beverage by 49.5% in the second quarter. Intech Investment Management LLC now owns 109,060 shares of the company’s stock worth $5,448,000 after purchasing an additional 36,111 shares during the period. Inspire Investing LLC raised its stake in Monster Beverage by 170.2% in the second quarter. Inspire Investing LLC now owns 23,860 shares of the company’s stock valued at $1,192,000 after purchasing an additional 15,030 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Monster Beverage during the second quarter worth about $2,698,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets decreased their target price on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Roth Mkm lowered their price objective on shares of Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Stifel Nicolaus dropped their target price on Monster Beverage from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, June 17th. TD Cowen dropped their price objective 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. Finally, Jefferies Financial Group reduced their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Stock Performance

MNST opened at $51.18 on Friday. The company 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. The company’s fifty day moving average price is $49.11 and its two-hundred day moving average price is $52.27. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13.

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