Monster Beverage Corporation $MNST Holdings Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 102.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 196,566 shares of the company’s stock after acquiring an additional 99,338 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Monster Beverage were worth $8,181,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new position in Monster Beverage in the 2nd quarter valued at about $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $28,000. Trust Co. of Vermont acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $30,000. NBH Bank acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $32,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Monster Beverage during the 2nd quarter worth approximately $32,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

NASDAQ MNST opened at $46.63 on Thursday. The firm’s 50-day moving average is $44.77 and its two-hundred day moving average is $44.38. Monster Beverage Corporation has a 12 month low of $32.94 and a 12 month high of $50.17. The stock has a market capitalization of $91.35 billion, a P/E ratio of 41.81, a PEG ratio of 2.92 and a beta of 0.49.

Monster Beverage (NASDAQ:MNST) last announced 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. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $0.26 earnings per share. Monster Beverage’s revenue was up 20.2% compared to the same quarter last year. As a group, analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MNST. Stifel Nicolaus lifted their price target on shares of Monster Beverage from $45.00 to $52.50 and gave the company a “buy” rating in a research report on Thursday, July 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $47.50 price objective (up from $36.50) on shares of Monster Beverage in a research report on Monday, July 20th. Zacks Research upgraded Monster Beverage from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Jefferies Financial Group cut their target price on Monster Beverage from $108.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, Wells Fargo & Company cut their target price on Monster Beverage from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.07.

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.