Monster Beverage Co. (NASDAQ:MNST) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its position in Monster Beverage Co. (NASDAQ:MNST) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,948,888 shares of the company’s stock after acquiring an additional 1,677 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.19% of Monster Beverage worth $115,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in shares of Monster Beverage in the fourth quarter worth about $27,000. Tortoise Investment Management LLC lifted its stake in Monster Beverage by 360.0% during the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 396 shares during the period. Headinvest LLC purchased a new stake in shares of Monster Beverage in the 3rd quarter valued at $28,000. Rise Advisors LLC increased its stake in shares of Monster Beverage by 187.6% in the first quarter. Rise Advisors LLC now owns 716 shares of the company’s stock worth $42,000 after acquiring an additional 467 shares during the period. Finally, Quent Capital LLC raised its holdings in shares of Monster Beverage by 40.8% during the fourth quarter. Quent Capital LLC now owns 1,180 shares of the company’s stock worth $68,000 after purchasing an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MNST. JPMorgan Chase & Co. downgraded Monster Beverage from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. BNP Paribas initiated coverage on Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 price target for the company. BMO Capital Markets decreased their price target on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Roth Mkm dropped their price objective on shares of Monster Beverage from $59.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 12th. Finally, Morgan Stanley decreased their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.05.

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $49.16 on Thursday. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22. The business’s 50 day moving average price is $52.09 and its 200-day moving average price is $55.20. The firm has a market capitalization of $51.21 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, sell-side analysts expect that Monster Beverage Co. will post 1.76 earnings per share for the current year.

Insider Activity

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark Vidergauz sold 15,077 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares in the company, valued at approximately $3,534,458.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the sale, the director now directly owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Insiders sold 307,221 shares of company stock worth $16,070,374 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

About Monster Beverage

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.