Monster Beverage Corporation $MNST Position Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 100.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,566 shares of the company’s stock after purchasing an additional 202,520 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Monster Beverage were worth $25,342,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MNST. Alps Advisors Inc. bought a new position in shares of Monster Beverage in the first quarter valued at $374,000. Fidelis Capital Partners LLC grew its holdings in shares of Monster Beverage by 4.5% in the 1st quarter. Fidelis Capital Partners LLC now owns 6,914 shares of the company’s stock worth $406,000 after acquiring an additional 300 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Monster Beverage by 18.9% during the first quarter. Ballentine Partners LLC now owns 5,596 shares of the company’s stock worth $327,000 after purchasing an additional 891 shares during the period. Arizona State Retirement System lifted its holdings in shares of Monster Beverage by 2.3% during the first quarter. Arizona State Retirement System now owns 213,939 shares of the company’s stock valued at $12,520,000 after purchasing an additional 4,788 shares during the last quarter. Finally, Dock Street Asset Management Inc. boosted its position in shares of Monster Beverage by 202.7% in the 1st quarter. Dock Street Asset Management Inc. now owns 11,744 shares of the company’s stock valued at $687,000 after purchasing an additional 7,864 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MNST. Royal Bank Of Canada restated an “outperform” rating on shares of Monster Beverage in a report on Thursday. Bank of America lifted their target price on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Piper Sandler raised their price objective on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Monster Beverage from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.41.

Insider Transactions at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total value of $637,300.00. Following the completion of the sale, the director directly owned 51,191 shares of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by company insiders.

Monster Beverage Trading Up 5.2%

NASDAQ MNST opened at $69.73 on Monday. The company has a market capitalization of $68.09 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $72.62. The firm’s fifty day simple moving average is $66.59 and its 200-day simple moving average is $63.50.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. As a group, analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Profile

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, Alcohol Brands, and Other.