Daiwa Securities Group Inc. Acquires 10,852 Shares of Monster Beverage Co. (NASDAQ:MNST)

Daiwa Securities Group Inc. lifted its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,868 shares of the company’s stock after acquiring an additional 10,852 shares during the period. Daiwa Securities Group Inc.’s holdings in Monster Beverage were worth $7,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Monster Beverage in the fourth quarter valued at about $517,035,000. Ninety One UK Ltd grew its stake in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock valued at $373,519,000 after buying an additional 3,620,436 shares during the last quarter. Capital Research Global Investors raised its holdings in Monster Beverage by 40.6% in the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after acquiring an additional 3,026,657 shares during the period. TD Asset Management Inc lifted its position in Monster Beverage by 143.8% during the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after acquiring an additional 1,893,064 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new stake in shares of Monster Beverage during the second quarter worth approximately $81,757,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Price Performance

Shares of MNST stock opened at $49.65 on Thursday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a quick ratio of 2.69, a current ratio of 3.41 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $48.95 and a 200 day simple moving average of $52.54. The company has a market cap of $51.72 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.25 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. On average, sell-side analysts forecast that Monster Beverage Co. will post 1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MNST shares. Royal Bank of Canada dropped their price target on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. TD Cowen dropped their target price on Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a report on Monday, July 15th. Citigroup decreased their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial lowered their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, Stifel Nicolaus decreased their target price on shares of Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.85.

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.