Nomura Asset Management Co. Ltd. Increases Position in Monster Beverage Co. (NASDAQ:MNST)

Nomura Asset Management Co. Ltd. grew its holdings in Monster Beverage Co. (NASDAQ:MNST) by 14.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 290,411 shares of the company’s stock after acquiring an additional 37,594 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Monster Beverage were worth $16,731,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Corient Private Wealth LLC raised its holdings in Monster Beverage by 112.2% during the third quarter. Corient Private Wealth LLC now owns 195,272 shares of the company’s stock worth $10,339,000 after purchasing an additional 103,271 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Monster Beverage during the fourth quarter worth about $7,340,000. Defender Capital LLC. raised its holdings in Monster Beverage by 30.2% during the fourth quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock worth $21,378,000 after purchasing an additional 86,050 shares in the last quarter. Norges Bank purchased a new position in Monster Beverage during the fourth quarter worth about $517,035,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Monster Beverage by 9.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 10,268 shares of the company’s stock worth $590,000 after purchasing an additional 900 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

MNST stock opened at $52.70 on Monday. Monster Beverage Co. has a 12 month low of $47.13 and a 12 month high of $61.22. The company’s 50 day simple moving average is $55.47 and its 200-day simple moving average is $56.08. The firm has a market capitalization of $54.90 billion, a PE ratio of 33.14, a P/E/G ratio of 2.21 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Monster Beverage Co. will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNST. Morgan Stanley cut their price target on shares of Monster Beverage from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. UBS Group dropped their target price on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. cut shares of Monster Beverage from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $66.00 to $59.00 in a report on Thursday, April 25th. Royal Bank of Canada increased their target price on shares of Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Piper Sandler increased their target price on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.32.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the sale, the director now owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.80% of the stock is owned by company insiders.

Monster Beverage 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.