State of Alaska Department of Revenue Has $7.18 Million Position in Monster Beverage Co. (NASDAQ:MNST)

State of Alaska Department of Revenue lifted its holdings in shares of Monster Beverage Co. (NASDAQ:MNSTGet Rating) by 28.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,488 shares of the company’s stock after purchasing an additional 17,000 shares during the quarter. State of Alaska Department of Revenue’s holdings in Monster Beverage were worth $7,183,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Monster Beverage in the 4th quarter valued at approximately $316,325,000. Capital World Investors grew its stake in Monster Beverage by 43.8% in the fourth quarter. Capital World Investors now owns 5,341,329 shares of the company’s stock valued at $512,981,000 after purchasing an additional 1,626,751 shares in the last quarter. Boston Partners bought a new position in Monster Beverage in the first quarter valued at approximately $129,128,000. Suvretta Capital Management LLC bought a new position in Monster Beverage in the fourth quarter valued at approximately $109,841,000. Finally, Clearbridge Investments LLC grew its stake in Monster Beverage by 10.0% in the first quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock valued at $804,749,000 after purchasing an additional 912,942 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Insiders Place Their Bets

In other Monster Beverage news, CFO Thomas J. Kelly sold 16,032 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $92.52, for a total value of $1,483,280.64. Following the completion of the transaction, the chief financial officer now owns 19,433 shares of the company’s stock, valued at approximately $1,797,941.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Thomas J. Kelly sold 16,032 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $92.52, for a total transaction of $1,483,280.64. Following the sale, the chief financial officer now owns 19,433 shares in the company, valued at approximately $1,797,941.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Kelly sold 16,996 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $93.92, for a total value of $1,596,264.32. Following the transaction, the chief financial officer now directly owns 25,777 shares in the company, valued at $2,420,975.84. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Monster Beverage Stock Performance

Monster Beverage stock opened at $87.85 on Tuesday. Monster Beverage Co. has a 52 week low of $71.78 and a 52 week high of $99.81. The stock has a market capitalization of $46.29 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 3.45 and a beta of 0.95. The stock has a fifty day moving average of $92.54 and a 200-day moving average of $87.99.

Monster Beverage (NASDAQ:MNSTGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.19). Monster Beverage had a return on equity of 18.51% and a net margin of 20.40%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the firm posted $0.75 EPS. Monster Beverage’s quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts forecast that Monster Beverage Co. will post 2.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNST. Royal Bank of Canada decreased their price target on Monster Beverage from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. BMO Capital Markets lifted their target price on Monster Beverage from $90.00 to $95.00 in a research note on Wednesday, June 15th. Roth Capital started coverage on Monster Beverage in a research note on Tuesday, July 5th. They set a “neutral” rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $109.00 to $107.00 in a research note on Friday, August 5th. Finally, UBS Group lifted their target price on Monster Beverage from $94.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus target price of $101.40.

About Monster Beverage

(Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

Featured Stories

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Co. (NASDAQ:MNSTGet Rating).

Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.