Sumitomo Mitsui Trust Holdings Inc. reduced its position in Monster Beverage Corporation (NASDAQ:MNST) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,156,217 shares of the company’s stock after selling 10,747 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of Monster Beverage Corporation worth $63,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Trust Group LLC raised its position in shares of Monster Beverage Corporation by 4.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 484,219 shares of the company’s stock worth $24,056,000 after buying an additional 19,966 shares during the period. BlackRock Inc. raised its position in shares of Monster Beverage Corporation by 1.7% in the 2nd quarter. BlackRock Inc. now owns 21,937,361 shares of the company’s stock worth $1,089,848,000 after buying an additional 376,666 shares during the period. Cim Investment Mangement Inc. raised its position in shares of Monster Beverage Corporation by 250.5% in the 2nd quarter. Cim Investment Mangement Inc. now owns 22,982 shares of the company’s stock worth $1,142,000 after buying an additional 16,426 shares during the period. Chilton Investment Co. LLC purchased a new position in shares of Monster Beverage Corporation in the 2nd quarter worth $35,322,000. Finally, Skylands Capital LLC purchased a new position in shares of Monster Beverage Corporation in the 3rd quarter worth $276,000. 65.82% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Sydney Selati sold 10,000 shares of the stock in a transaction dated 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 owns 52,000 shares of the company’s stock, valued at $2,912,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.

Several research analysts recently weighed in on MNST shares. Credit Suisse Group lowered Monster Beverage Corporation to a “hold” rating in a research report on Friday, September 8th. Macquarie initiated coverage on Monster Beverage Corporation in a report on Thursday, September 14th. They issued an “outperform” rating and a $65.00 price target for the company. BMO Capital Markets reiterated a “buy” rating and issued a $58.00 price target on shares of Monster Beverage Corporation in a report on Wednesday, September 6th. Citigroup Inc. set a $60.00 price target on Monster Beverage Corporation and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 price target on shares of Monster Beverage Corporation in a report on Saturday, September 23rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $58.68.

Shares of Monster Beverage Corporation (MNST) opened at $62.17 on Friday. The firm has a market capitalization of $35,061.58, a PE ratio of 42.29, a PEG ratio of 2.22 and a beta of 0.91. Monster Beverage Corporation has a 52 week low of $41.02 and a 52 week high of $62.80.

Monster Beverage Corporation (NASDAQ:MNST) last announced its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $909.50 million during the quarter, compared to the consensus estimate of $903.82 million. Monster Beverage Corporation had a return on equity of 23.45% and a net margin of 23.92%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. research analysts forecast that Monster Beverage Corporation will post 1.48 EPS for the current fiscal year.

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About Monster Beverage Corporation

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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