Monster Beverage Corporation (NASDAQ:MNST) Position Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 11.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,418 shares of the company's stock after purchasing an additional 8,851 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Monster Beverage were worth $5,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Monster Beverage in the fourth quarter valued at approximately $31,000. Coppell Advisory Solutions LLC increased its position in Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock valued at $36,000 after acquiring an additional 495 shares during the period. Park Square Financial Group LLC acquired a new stake in Monster Beverage in the 4th quarter valued at approximately $36,000. CVA Family Office LLC raised its stake in Monster Beverage by 28.6% during the 1st quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock valued at $89,000 after acquiring an additional 338 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in Monster Beverage by 541.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,713 shares of the company's stock worth $90,000 after acquiring an additional 1,446 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Monster Beverage from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Piper Sandler upped their price objective on Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, May 9th. CICC Research raised Monster Beverage from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $56.00 to $65.00 in a report on Monday, May 12th. Wells Fargo & Company boosted their price target on shares of Monster Beverage from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, Bank of America raised their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.05.

Insider Activity at Monster Beverage

In related news, insider Emelie Tirre sold 8,796 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $62.46, for a total transaction of $549,398.16. Following the transaction, the insider directly owned 89,501 shares of the company's stock, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $63.40, for a total transaction of $1,711,800.00. Following the completion of the sale, the chief financial officer owned 69,273 shares of the company's stock, valued at approximately $4,391,908.20. The trade was a 28.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.30% of the company's stock.

Monster Beverage Price Performance

MNST opened at $63.04 on Thursday. The firm has a market capitalization of $61.48 billion, a P/E ratio of 41.47, a PEG ratio of 2.25 and a beta of 0.59. The stock has a fifty day moving average of $62.20 and a 200-day moving average of $56.33. The company has a quick ratio of 2.78, a current ratio of 3.37 and a debt-to-equity ratio of 0.03. Monster Beverage Corporation has a 12-month low of $43.32 and a 12-month high of $64.45.

Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Monster Beverage had a return on equity of 27.46% and a net margin of 20.27%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business earned $0.42 EPS. The business's revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

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.

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