Sumitomo Mitsui Trust Group Inc. Purchases 36,204 Shares of Monster Beverage Corporation $MNST

Sumitomo Mitsui Trust Group Inc. lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,859,273 shares of the company’s stock after buying an additional 36,204 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Monster Beverage were worth $116,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MNST. Salomon & Ludwin LLC bought a new position in shares of Monster Beverage during the second quarter valued at $28,000. Wayfinding Financial LLC purchased a new position in Monster Beverage in the 1st quarter worth about $29,000. Webster Bank N. A. bought a new position in Monster Beverage during the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Monster Beverage by 37.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 724 shares of the company’s stock valued at $42,000 after acquiring an additional 196 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Monster Beverage in the first quarter worth approximately $43,000. Institutional investors own 72.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MNST. Rothschild & Co Redburn downgraded shares of Monster Beverage from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, July 9th. UBS Group lifted their price objective on Monster Beverage from $67.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded Monster Beverage from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Redburn Atlantic cut Monster Beverage from a “strong-buy” rating to a “hold” rating and dropped their target price for the stock from $63.00 to $60.00 in a research report on Wednesday, July 9th. Finally, Stifel Nicolaus upped their price target on shares of Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Monster Beverage presently has an average rating of “Hold” and a consensus target price of $66.43.

Insider Buying and Selling

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director owned 51,191 shares of the company’s stock, valued at $3,262,402.43. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.30% of the company’s stock.

Monster Beverage Stock Performance

NASDAQ MNST opened at $69.69 on Friday. The business’s fifty day moving average is $65.67 and its 200 day moving average is $62.79. Monster Beverage Corporation has a fifty-two week low of $45.70 and a fifty-two week high of $70.72. The company has a market capitalization of $68.05 billion, a PE ratio of 43.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

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.