Monster Beverage Corp (MNST) Position Cut by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lessened its stake in Monster Beverage Corp (NASDAQ:MNST) by 3.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 58,624 shares of the company’s stock after selling 2,144 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Monster Beverage were worth $3,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Monster Beverage by 4,494.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,620,232 shares of the company’s stock valued at $94,000 after purchasing an additional 4,519,673 shares in the last quarter. Norges Bank bought a new position in shares of Monster Beverage during the 4th quarter valued at about $209,565,000. Thrivent Financial for Lutherans boosted its position in shares of Monster Beverage by 1,288.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,147,995 shares of the company’s stock valued at $105,724,000 after purchasing an additional 1,993,335 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Monster Beverage by 246.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,788,515 shares of the company’s stock valued at $88,031,000 after purchasing an additional 1,272,161 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Monster Beverage by 4.2% during the 4th quarter. BlackRock Inc. now owns 25,120,708 shares of the company’s stock valued at $1,236,441,000 after purchasing an additional 1,009,563 shares in the last quarter. Hedge funds and other institutional investors own 65.46% of the company’s stock.

In other news, Director Harold C. Taber, Jr. sold 11,772 shares of Monster Beverage stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $63.58, for a total value of $748,463.76. Following the transaction, the director now owns 72,240 shares of the company’s stock, valued at $4,593,019.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark J. Hall sold 394,341 shares of Monster Beverage stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $61.58, for a total transaction of $24,283,518.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 481,356 shares of company stock worth $29,678,733. Insiders own 9.70% of the company’s stock.

Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. UBS Group set a $52.00 price objective on shares of Monster Beverage and gave the company a “sell” rating in a research report on Thursday, February 28th. BMO Capital Markets raised their price objective on shares of Monster Beverage from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Jefferies Financial Group raised their price objective on shares of Monster Beverage from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Credit Suisse Group set a $77.00 price objective on shares of Monster Beverage and gave the company a “buy” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $63.03.

NASDAQ MNST opened at $62.35 on Wednesday. The company has a market capitalization of $33.89 billion, a PE ratio of 34.83, a P/E/G ratio of 2.11 and a beta of 1.53. Monster Beverage Corp has a 52-week low of $47.61 and a 52-week high of $66.38.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm had revenue of $946.00 million for the quarter, compared to analyst estimates of $919.49 million. Monster Beverage had a net margin of 26.61% and a return on equity of 28.35%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. As a group, research analysts anticipate that Monster Beverage Corp will post 2.07 EPS for the current fiscal year.

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About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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

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