Sumitomo Mitsui Asset Management Company LTD Has $2,004,000 Position in Monster Beverage Co. (MNST)
Sumitomo Mitsui Asset Management Company LTD cut its position in Monster Beverage Co. (NASDAQ:MNST) by 60.9% during the second quarter, Holdings Channel reports. The firm owned 12,472 shares of the company’s stock after selling 19,449 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Monster Beverage were worth $2,004,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in MNST. National Pension Service boosted its position in shares of Monster Beverage by 4.2% in the first quarter. National Pension Service now owns 85,282 shares of the company’s stock worth $11,375,000 after buying an additional 3,440 shares in the last quarter. Geode Capital Management LLC boosted its stake in Monster Beverage by 5.4% in the first quarter. Geode Capital Management LLC now owns 1,327,398 shares of the company’s stock worth $176,723,000 after buying an additional 67,508 shares in the last quarter. Marshall & Sullivan Inc. WA boosted its stake in Monster Beverage by 2.1% in the first quarter. Marshall & Sullivan Inc. WA now owns 13,626 shares of the company’s stock worth $1,817,000 after buying an additional 277 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Monster Beverage by 8.8% in the first quarter. Loomis Sayles & Co. L P now owns 5,901,439 shares of the company’s stock worth $787,134,000 after buying an additional 476,669 shares in the last quarter. Finally, Marsico Capital Management LLC acquired a new stake in Monster Beverage during the first quarter worth approximately $2,473,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.
Shares of Monster Beverage Co. (NASDAQ:MNST) traded down 0.54% on Monday, hitting $144.30. The company’s stock had a trading volume of 620,289 shares. The stock has a 50-day moving average price of $148.29 and a 200 day moving average price of $149.53. Monster Beverage Co. has a one year low of $113.08 and a one year high of $166.50. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 45.04 and a beta of 0.74. Monster Beverage shares are set to split on the morning of Thursday, November 10th. The 3-1 split was announced on Friday, October 14th. The newly created shares will be payable to shareholders after the closing bell on Wednesday, November 9th.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.03 by $0.04. Monster Beverage had a return on equity of 15.46% and a net margin of 22.73%. The company had revenue of $945.80 million for the quarter, compared to analyst estimates of $804.24 million. During the same quarter last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts predict that Monster Beverage Co. will post $3.90 EPS for the current year.
A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Monster Beverage from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, August 5th. BMO Capital Markets reissued a “buy” rating and set a $165.00 price target on shares of Monster Beverage in a report on Friday, August 5th. Susquehanna reissued a “hold” rating on shares of Monster Beverage in a report on Monday, August 8th. Royal Bank Of Canada raised their price target on Monster Beverage from $166.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Finally, Citigroup Inc. raised their price target on Monster Beverage from $170.00 to $199.00 and gave the company a “buy” rating in a report on Monday, August 8th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $166.37.
In related news, VP Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the completion of the transaction, the vice president now owns 5,717 shares in the company, valued at approximately $912,776.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.20% of the company’s stock.
About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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 Co. (NASDAQ:MNST).
Receive News & Ratings for Monster Beverage Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage Co. and related companies with MarketBeat.com's FREE daily email newsletter.