88,012 Monster Beverage Corporation $MNST Shares Purchased by Oregon Public Employees Retirement Fund

by · The Markets Daily

Oregon Public Employees Retirement Fund boosted its position in Monster Beverage Corporation (NASDAQ:MNST – Free Report) by 100.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 175,804 shares of the company’s stock after purchasing an additional 88,012 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Monster Beverage were worth $7,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Monster Beverage in the 2nd quarter worth approximately $5,770,004,000. Ninety One UK Ltd lifted its stake in Monster Beverage by 89.1% during the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock valued at $545,444,000 after acquiring an additional 6,175,047 shares during the period. Bank of America Corp DE lifted its stake in Monster Beverage by 0.8% during the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock valued at $908,102,000 after acquiring an additional 99,168 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Monster Beverage by 23.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock valued at $553,414,000 after acquiring an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Monster Beverage by 27.8% in the 2nd quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock valued at $717,629,000 after acquiring an additional 1,624,416 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Ratings Changes

MNST has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of Monster Beverage from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein lowered their price target on shares of Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. Evercore cut their price target on Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $47.50 price target (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Finally, TD Cowen lifted their price objective on Monster Beverage from $45.00 to $47.50 and gave the company a “hold” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.86.

View Our Latest Stock Analysis on Monster Beverage

Monster Beverage Trading Up 3.3%

Monster Beverage stock opened at $48.75 on Thursday. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The stock’s 50 day simple moving average is $44.73 and its two-hundred day simple moving average is $43.23. The firm has a market cap of $95.50 billion, a PE ratio of 45.14, a P/E/G ratio of 2.97 and a beta of 0.51.

Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. On average, equities research analysts forecast that Monster Beverage Corporation will post 1.16 EPS for the current year.

Monster Beverage Profile

(Free Report)

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.

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