Sumitomo Mitsui Trust Group Inc. Purchases 79,120 Shares of Monster Beverage Corporation $MNST

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,938,393 shares of the company’s stock after buying an additional 79,120 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Monster Beverage were worth $130,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MNST. Access Investment Management LLC bought a new position in shares of Monster Beverage during the second quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Monster Beverage in the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC bought a new position in shares of Monster Beverage during the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. boosted its holdings in Monster Beverage by 1,338.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after acquiring an additional 415 shares in the last quarter. Finally, First Horizon Corp bought a new position in Monster Beverage in the 3rd quarter worth $29,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Performance

Shares of MNST stock opened at $78.43 on Wednesday. The company has a market capitalization of $76.63 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.46. Monster Beverage Corporation has a one year low of $45.70 and a one year high of $78.81. The company’s 50-day moving average is $74.36 and its 200 day moving average is $67.68.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a net margin of 21.65% and a return on equity of 27.76%. The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts predict that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In related news, insider Emelie Tirre sold 30,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares of the company’s stock, valued at $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Guy Carling sold 38,438 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the transaction, the insider directly owned 21,993 shares of the company’s stock, valued at approximately $1,568,760.69. This trade represents a 63.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 274,981 shares of company stock worth $20,138,516. Insiders own 7.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MNST. Jefferies Financial Group reiterated a “buy” rating and set a $79.00 price target on shares of Monster Beverage in a research report on Tuesday, November 4th. Piper Sandler set a $85.00 target price on Monster Beverage in a research note on Wednesday, December 3rd. Citigroup reiterated a “buy” rating and issued a $87.00 price objective (up previously from $82.00) on shares of Monster Beverage in a report on Wednesday, December 17th. Zacks Research cut shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Argus upgraded shares of Monster Beverage to a “strong-buy” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

About Monster Beverage

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.