Monster Beverage Corporation (NASDAQ:MNST) Stock Position Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,823,069 shares of the company's stock after buying an additional 49,665 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Monster Beverage worth $106,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MNST. SBI Securities Co. Ltd. bought a new stake in Monster Beverage during the fourth quarter worth approximately $31,000. Coppell Advisory Solutions LLC raised its stake in shares of Monster Beverage by 259.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 686 shares of the company's stock worth $36,000 after buying an additional 495 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at $36,000. CVA Family Office LLC boosted its stake in Monster Beverage by 28.6% during the first quarter. CVA Family Office LLC now owns 1,519 shares of the company's stock valued at $89,000 after buying an additional 338 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in Monster Beverage by 541.6% during the fourth 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MNST. Piper Sandler upped their price target on shares of Monster Beverage from $51.00 to $54.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Jefferies Financial Group increased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Monster Beverage from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Bank of America increased their price objective on Monster Beverage from $57.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, TD Cowen raised their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued 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 a consensus price target of $62.05.

Monster Beverage Stock Down 0.8%

MNST stock opened at $61.71 on Monday. 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. The company has a 50 day moving average of $61.95 and a two-hundred day moving average of $56.17. The company has a market cap of $60.18 billion, a price-to-earnings ratio of 40.60, a PEG ratio of 2.19 and a beta of 0.60.

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

Insider Transactions at Monster Beverage

In other news, insider Emelie Tirre sold 8,796 shares of Monster Beverage stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $62.46, for a total value of $549,398.16. Following the transaction, the insider now directly owns 89,501 shares in the company, valued at approximately $5,590,232.46. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Kelly sold 27,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $63.40, for a total value of $1,711,800.00. Following the sale, the chief financial officer now owns 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. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.