Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Monster Beverage Co. (NASDAQ:MNST)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Monster Beverage Co. (NASDAQ:MNST) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,240 shares of the company’s stock after buying an additional 6,870 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Monster Beverage were worth $3,958,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MNST. iA Global Asset Management Inc. increased its position in shares of Monster Beverage by 17.0% in the 2nd quarter. iA Global Asset Management Inc. now owns 165,879 shares of the company’s stock worth $8,286,000 after purchasing an additional 24,118 shares during the last quarter. Stephens Consulting LLC bought a new stake in Monster Beverage in the second quarter valued at about $26,000. Crossmark Global Holdings Inc. raised its stake in Monster Beverage by 0.4% during the second quarter. Crossmark Global Holdings Inc. now owns 48,726 shares of the company’s stock valued at $2,434,000 after buying an additional 211 shares in the last quarter. Crewe Advisors LLC lifted its holdings in Monster Beverage by 37.5% during the 2nd quarter. Crewe Advisors LLC now owns 850 shares of the company’s stock worth $42,000 after buying an additional 232 shares during the last quarter. Finally, Defender Capital LLC. lifted its holdings in Monster Beverage by 14.8% during the 2nd quarter. Defender Capital LLC. now owns 435,486 shares of the company’s stock worth $21,753,000 after buying an additional 56,079 shares during the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mark J. Hall sold 250,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the transaction, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark J. Hall sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the sale, the director now directly owns 532,754 shares in the company, valued at approximately $27,820,413.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the sale, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 307,221 shares of company stock worth $16,070,374. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MNST shares. Piper Sandler dropped their price target on Monster Beverage from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Bank of America reduced their price target on shares of Monster Beverage from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. UBS Group lowered their price objective on shares of Monster Beverage from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen decreased their target price on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

Monster Beverage Stock Up 0.3 %

Shares of MNST opened at $47.13 on Friday. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.22. The firm has a market capitalization of $49.10 billion, a PE ratio of 29.64, a P/E/G ratio of 2.09 and a beta of 0.76. The firm has a 50-day moving average price of $49.10 and a 200 day moving average price of $52.92.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Monster Beverage’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Monster Beverage Co. will post 1.75 EPS for the current year.

Monster Beverage Company 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.