California Public Employees Retirement System Has $91.74 Million Stock Holdings in Monster Beverage Corporation $MNST

California Public Employees Retirement System raised its position in Monster Beverage Corporation (NASDAQ:MNST) by 2.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,362,966 shares of the company’s stock after acquiring an additional 38,340 shares during the period. California Public Employees Retirement System owned about 0.14% of Monster Beverage worth $91,741,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. grew its stake in shares of Monster Beverage by 508.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after acquiring an additional 315 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Monster Beverage in the third quarter worth $27,000. First Horizon Corp bought a new stake in shares of Monster Beverage in the third quarter worth $29,000. Armstrong Advisory Group Inc. boosted its holdings in Monster Beverage by 49.0% during the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after purchasing an additional 146 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 415 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $77.05 on Tuesday. The company has a fifty day moving average price of $80.20 and a two-hundred day moving average price of $73.62. Monster Beverage Corporation has a one year low of $54.73 and a one year high of $87.38. The stock has a market cap of $75.28 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.49 and a beta of 0.44.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the business earned $0.39 EPS. Monster Beverage’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNST. Bank of America lifted their price target on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Zacks Research downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group raised their price objective on Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Roth Mkm reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Monster Beverage in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Monster Beverage in a report on Monday, December 29th. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $83.95.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.