Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in Monster Beverage Co. (NASDAQ:MNST) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,323 shares of the company’s stock after selling 917 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Monster Beverage were worth $4,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Park Avenue Securities LLC raised its stake in Monster Beverage by 10.5% in the 1st quarter. Park Avenue Securities LLC now owns 33,204 shares of the company’s stock valued at $1,968,000 after purchasing an additional 3,160 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Monster Beverage by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 64,866 shares of the company’s stock valued at $3,845,000 after purchasing an additional 407 shares during the last quarter. &PARTNERS raised its stake in Monster Beverage by 4.7% in the 1st quarter. &PARTNERS now owns 8,108 shares of the company’s stock valued at $481,000 after purchasing an additional 366 shares during the last quarter. Security Financial Services INC. acquired a new position in shares of Monster Beverage during the 1st quarter valued at about $216,000. Finally, Ballentine Partners LLC increased its stake in shares of Monster Beverage by 3.5% during the 1st quarter. Ballentine Partners LLC now owns 7,698 shares of the company’s stock valued at $456,000 after acquiring an additional 257 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Up 1.1 %

MNST stock opened at $54.05 on Friday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $56.31 billion, a P/E ratio of 33.99, a PEG ratio of 2.29 and a beta of 0.74. The firm has a 50 day simple moving average of $49.68 and a 200-day simple moving average of $51.14.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MNST. Evercore ISI dropped their price objective on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. BNP Paribas began coverage on shares of Monster Beverage in a research note on Monday, June 24th. They set an “underperform” rating and a $48.00 price objective for the company. Piper Sandler dropped their price objective on shares of Monster Beverage from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup dropped their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.68.

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.