New Mexico Educational Retirement Board cut its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 8.1% during the second quarter, Holdings Channel reports. The firm owned 37,500 shares of the company’s stock after selling 3,300 shares during the period. New Mexico Educational Retirement Board’s holdings in Monster Beverage Corporation were worth $1,978,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MNST. BlackRock Inc. increased its position in Monster Beverage Corporation by 1,887.5% in the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock worth $995,459,000 after buying an additional 20,475,879 shares during the last quarter. American Century Companies Inc. increased its position in Monster Beverage Corporation by 161.4% in the first quarter. American Century Companies Inc. now owns 4,349,597 shares of the company’s stock worth $200,821,000 after buying an additional 2,685,321 shares during the last quarter. Renaissance Technologies LLC increased its position in Monster Beverage Corporation by 297.8% in the first quarter. Renaissance Technologies LLC now owns 1,804,200 shares of the company’s stock worth $83,300,000 after buying an additional 1,350,700 shares during the last quarter. William Blair Investment Management LLC increased its position in Monster Beverage Corporation by 91.8% in the first quarter. William Blair Investment Management LLC now owns 2,000,603 shares of the company’s stock worth $92,368,000 after buying an additional 957,769 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its position in Monster Beverage Corporation by 6,737.7% in the second quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock worth $17,920,000 after buying an additional 877,246 shares during the last quarter. 65.91% of the stock is owned by institutional investors.

Shares of Monster Beverage Corporation (NASDAQ MNST) opened at 52.52 on Friday. The company’s 50 day moving average is $51.76 and its 200-day moving average is $47.74. The firm has a market cap of $29.83 billion, a PE ratio of 39.73 and a beta of 0.96. Monster Beverage Corporation has a 12 month low of $40.64 and a 12 month high of $54.24.

Monster Beverage Corporation (NASDAQ:MNST) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $907.07 million during the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. Equities research analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current year.

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A number of equities analysts have recently commented on MNST shares. Zacks Investment Research raised shares of Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, July 17th. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Monster Beverage Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Vetr raised shares of Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating and set a $52.90 price objective for the company in a report on Wednesday, May 17th. Jefferies Group LLC raised their price objective on shares of Monster Beverage Corporation from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a report on Monday, May 15th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.28.

Monster Beverage Corporation Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

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

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