State of New Jersey Common Pension Fund D lowered its stake in Monster Beverage (NASDAQ:MNST) by 29.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 310,000 shares of the company’s stock after selling 130,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Monster Beverage worth $17,735,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC raised its stake in Monster Beverage by 26.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,863 shares of the company’s stock worth $244,000 after buying an additional 799 shares during the period. Wetherby Asset Management Inc. raised its stake in Monster Beverage by 8.4% during the 4th quarter. Wetherby Asset Management Inc. now owns 10,577 shares of the company’s stock worth $669,000 after buying an additional 817 shares during the period. LS Investment Advisors LLC raised its stake in Monster Beverage by 7.3% during the 4th quarter. LS Investment Advisors LLC now owns 12,012 shares of the company’s stock worth $760,000 after buying an additional 822 shares during the period. Vident Investment Advisory LLC raised its stake in Monster Beverage by 4.1% during the 4th quarter. Vident Investment Advisory LLC now owns 21,112 shares of the company’s stock worth $1,336,000 after buying an additional 833 shares during the period. Finally, QS Investors LLC raised its stake in Monster Beverage by 2.6% during the 4th quarter. QS Investors LLC now owns 33,356 shares of the company’s stock worth $2,111,000 after buying an additional 843 shares during the period. 65.83% of the stock is currently owned by institutional investors.
Several analysts recently commented on MNST shares. Deutsche Bank raised Monster Beverage from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. BMO Capital Markets raised their price objective on Monster Beverage to $71.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley dropped their price objective on Monster Beverage from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Friday, March 2nd. BidaskClub downgraded Monster Beverage from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Finally, JPMorgan Chase cut Monster Beverage from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $67.00 to $52.00 in a report on Wednesday, May 9th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Monster Beverage presently has an average rating of “Hold” and a consensus target price of $62.82.
Monster Beverage opened at $49.47 on Friday, Marketbeat.com reports. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.78 and a beta of 1.24. Monster Beverage has a 1 year low of $46.66 and a 1 year high of $70.21.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $850.92 million during the quarter, compared to analysts’ expectations of $845.88 million. Monster Beverage had a return on equity of 22.88% and a net margin of 24.69%. Monster Beverage’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. equities analysts forecast that Monster Beverage will post 1.71 earnings per share for the current year.
Monster Beverage declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 1st that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Norman Epstein sold 7,770 shares of the firm’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $56.09, for a total value of $435,819.30. Following the completion of the transaction, the director now owns 14,280 shares in the company, valued at approximately $800,965.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark J. Hall sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $58.11, for a total value of $1,917,630.00. Following the completion of the transaction, the director now owns 791,808 shares of the company’s stock, valued at approximately $46,011,962.88. The disclosure for this sale can be found here. Insiders sold a total of 55,770 shares of company stock valued at $3,228,099 in the last 90 days. 9.70% of the stock is owned by corporate insiders.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.
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