Sumitomo Mitsui Asset Management Company LTD Sells 1,622 Shares of Monster Beverage Corporation (MNST)

Sumitomo Mitsui Asset Management Company LTD lowered its holdings in Monster Beverage Corporation (NASDAQ:MNST) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,020 shares of the company’s stock after selling 1,622 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Monster Beverage Corporation were worth $1,658,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atlantic Trust Group LLC increased its position in shares of Monster Beverage Corporation by 4.3% in the second quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock worth $24,056,000 after acquiring an additional 19,966 shares in the last quarter. BlackRock Inc. increased its position in shares of Monster Beverage Corporation by 1.7% in the second quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after acquiring an additional 376,666 shares in the last quarter. Cim Investment Mangement Inc. increased its position in shares of Monster Beverage Corporation by 250.5% in the second quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock worth $1,142,000 after acquiring an additional 16,426 shares in the last quarter. Chilton Investment Co. LLC acquired a new stake in shares of Monster Beverage Corporation in the second quarter worth $35,322,000. Finally, Calamos Advisors LLC increased its position in shares of Monster Beverage Corporation by 7.5% in the second quarter. Calamos Advisors LLC now owns 652,398 shares of the company’s stock worth $32,411,000 after acquiring an additional 45,469 shares in the last quarter. 65.99% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. Jefferies Group LLC increased their price objective on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. BMO Capital Markets reissued a “buy” rating and issued a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Thursday. Credit Suisse Group lowered shares of Monster Beverage Corporation to a “hold” rating in a research report on Friday, September 8th. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage Corporation in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, July 17th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.06.

In other Monster Beverage Corporation news, Director Sydney Selati sold 10,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the director now directly owns 52,000 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.

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Monster Beverage Corporation (MNST) opened at $57.67 on Friday. Monster Beverage Corporation has a 52 week low of $40.64 and a 52 week high of $58.54. The company has a market cap of $32,766.30, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 2.06 and a beta of 0.91.

Monster Beverage Corporation (NASDAQ:MNST) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The company had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. sell-side analysts expect that Monster Beverage Corporation will post 1.47 EPS for the current year.

Monster Beverage Corporation Profile

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.

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Institutional Ownership by Quarter for Monster Beverage Corporation (NASDAQ:MNST)

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