Monster Beverage Corporation $MNST Position Boosted 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% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,566 shares of the company’s stock after buying an additional 99,338 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Monster Beverage were worth $8,181,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its position in shares of Monster Beverage by 97.6% in the third quarter. CWA Asset Management Group LLC now owns 12,596 shares of the company’s stock worth $524,000 after acquiring an additional 6,222 shares during the period. Novem Group boosted its stake in shares of Monster Beverage by 96.1% during the 3rd quarter. Novem Group now owns 31,857 shares of the company’s stock worth $1,326,000 after acquiring an additional 15,610 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in shares of Monster Beverage during the 3rd quarter worth about $712,000. Brown Lisle Cummings Inc. grew its position in shares of Monster Beverage by 100.0% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 1,054 shares of the company’s stock valued at $44,000 after acquiring an additional 527 shares during the period. Finally, SteelPeak Wealth LLC grew its position in shares of Monster Beverage by 101.6% during the 3rd quarter. SteelPeak Wealth LLC now owns 57,569 shares of the company’s stock valued at $2,396,000 after acquiring an additional 29,014 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Stock Down 0.9%

Shares of NASDAQ MNST opened at $46.63 on Thursday. The firm has a market cap of $91.35 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.92 and a beta of 0.49. The company’s 50-day simple moving average is $44.77 and its 200-day simple moving average is $44.38. Monster Beverage Corporation has a 52-week low of $32.94 and a 52-week high of $50.17.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, August 6th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Monster Beverage had a return on equity of 26.02% and a net margin of 23.08%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that Monster Beverage Corporation will post 1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MNST has been the subject of a number of analyst reports. Sanford C. Bernstein reduced their price target on Monster Beverage from $95.00 to $50.00 in a report on Sunday, August 23rd. Jefferies Financial Group dropped their price objective on Monster Beverage from $108.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Morgan Stanley raised their price objective on Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Piper Sandler restated an “overweight” rating and issued a $50.50 price objective on shares of Monster Beverage in a research report on Monday. Finally, TD Cowen upped their target price on Monster Beverage from $45.00 to $47.50 and gave the stock a “hold” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price 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.