Daiwa Securities Group Inc. Boosts Stake in Monster Beverage Corporation $MNST

Daiwa Securities Group Inc. lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,293 shares of the company’s stock after buying an additional 12,054 shares during the period. Daiwa Securities Group Inc.’s holdings in Monster Beverage were worth $13,799,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Access Investment Management LLC acquired a new stake in Monster Beverage during the 2nd quarter worth about $25,000. Salomon & Ludwin LLC purchased a new position in shares of Monster Beverage in the second quarter worth about $28,000. Golden State Wealth Management LLC lifted its holdings in shares of Monster Beverage by 647.3% during the second quarter. Golden State Wealth Management LLC now owns 553 shares of the company’s stock worth $35,000 after purchasing an additional 479 shares during the period. Webster Bank N. A. purchased a new stake in Monster Beverage in the second quarter valued at approximately $38,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Monster Beverage in the 2nd quarter worth approximately $45,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America lifted their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, November 7th. The Goldman Sachs Group upped their price target on shares of Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. UBS Group increased their price target on Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $81.00 target price (up previously from $74.00) on shares of Monster Beverage in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $71.45.

Monster Beverage Stock Down 0.5%

MNST stock opened at $73.57 on Wednesday. Monster Beverage Corporation has a 52-week low of $45.70 and a 52-week high of $76.28. The firm has a market cap of $71.88 billion, a P/E ratio of 41.80, a PEG ratio of 2.22 and a beta of 0.48. The company’s 50-day simple moving average is $70.44 and its 200-day simple moving average is $65.39.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a return on equity of 27.76% and a net margin of 21.65%.Monster Beverage’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. On average, analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other news, insider Guy Carling sold 38,438 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the transaction, the insider owned 21,993 shares in the company, valued at $1,568,760.69. This trade represents a 63.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.80% of the stock is currently owned by insiders.

Monster Beverage Company 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.