Monster Beverage Corporation $MNST Stock Position Increased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 100.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,000 shares of the company’s stock after purchasing an additional 35,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Monster Beverage were worth $2,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Monster Beverage during the 2nd quarter valued at approximately $5,770,004,000. Bank of America Corp DE bought a new stake in Monster Beverage in the 2nd quarter worth approximately $1,195,360,000. Ninety One UK Ltd increased its stake in Monster Beverage by 89.1% in the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock worth $545,444,000 after acquiring an additional 6,175,047 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $593,075,000. Finally, Legal & General Group Plc purchased a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $478,694,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Up 0.1%

MNST stock opened at $45.40 on Thursday. Monster Beverage Corporation has a twelve month low of $35.03 and a twelve month high of $50.17. The stock has a market capitalization of $88.87 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.51. The firm’s fifty day simple moving average is $44.68 and its two-hundred day simple moving average is $43.37.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Monster Beverage had a net margin of 22.66% and a return on equity of 24.99%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $0.56 EPS. The business’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MNST. Royal Bank Of Canada reiterated an “outperform” rating and set a $48.50 target price (down from $97.00) on shares of Monster Beverage in a research report on Wednesday, August 5th. Deutsche Bank restated a “hold” rating and issued a $100.00 price target (up from $98.00) on shares of Monster Beverage in a research report on Monday, August 10th. JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $49.50 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, October 26th. Wells Fargo & Company increased their price objective on shares of Monster Beverage from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Finally, Evercore dropped their price objective on shares of Monster Beverage from $95.00 to $52.00 in a research note on Thursday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.07.

Monster Beverage Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages. The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012. Based in Corona, California, Monster sells its products in the United States and internationally.