Monster Beverage Corporation $MNST Stock Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Monster Beverage stake by 90.9% in the third quarter, purchasing 1.63 million additional shares. Institutional investors collectively own 72.36% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $71.86, although several firms recently reduced their targets.
• Monster Beverage reported quarterly revenue of $2.50 billion, up 20.2% year over year, and earnings of $0.60 per share, exceeding analyst estimates. The stock opened at $48.02 and trades near its 52-week high of $50.17.

Sumitomo Mitsui Trust Group Inc. raised its position in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 90.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,418,660 shares of the company's stock after purchasing an additional 1,627,700 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of Monster Beverage worth $142,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CI Investments Inc. lifted its holdings in shares of Monster Beverage by 3.5% during the 1st quarter. CI Investments Inc. now owns 3,497 shares of the company's stock valued at $253,000 after buying an additional 119 shares during the last quarter. Wealth Alliance LLC increased its holdings in Monster Beverage by 2.2% in the first quarter. Wealth Alliance LLC now owns 6,752 shares of the company's stock worth $489,000 after buying an additional 148 shares during the last quarter. CX Institutional increased its holdings in Monster Beverage by 2.4% in the second quarter. CX Institutional now owns 6,384 shares of the company's stock worth $614,000 after buying an additional 148 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Monster Beverage by 1.0% in the first quarter. V Square Quantitative Management LLC now owns 17,596 shares of the company's stock worth $1,275,000 after buying an additional 175 shares during the last quarter. Finally, Arlington Capital Management Inc. increased its holdings in Monster Beverage by 4.7% in the first quarter. Arlington Capital Management Inc. now owns 3,980 shares of the company's stock worth $288,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MNST. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $100.00 target price (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. Evercore decreased their target price on shares of Monster Beverage from $95.00 to $52.00 in a research report on Thursday, October 8th. The Goldman Sachs Group increased their price target on shares of Monster Beverage from $106.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Stifel Nicolaus set a $52.00 price target on shares of Monster Beverage in a report on Thursday, October 22nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $48.50 price objective (down from $97.00) on shares of Monster Beverage in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.86.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $48.02 on Tuesday. The business's 50-day simple moving average is $44.76 and its 200-day simple moving average is $43.14. Monster Beverage Corporation has a 52 week low of $32.94 and a 52 week high of $50.17. The firm has a market cap of $94.07 billion, a price-to-earnings ratio of 44.46, a P/E/G ratio of 2.88 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. As a group, equities research analysts forecast that Monster Beverage Corporation will post 1.16 earnings per share for the current year.

About Monster Beverage

Monster Beverage Corporation is a global beverage company focused primarily on the development, marketing, sale and distribution of energy drinks. Its portfolio includes the flagship Monster Energy brand, along with products marketed under brands such as NOS, Full Throttle, Reign, Burn and Mother. The company offers a range of energy drinks in different flavors and formulations, including products positioned for performance, fitness and everyday consumption.

The company traces its origins to Hansen Natural Corporation, which was founded in 1935 and changed its name to Monster Beverage Corporation in 2012 as the Monster Energy brand became increasingly central to its business.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.