Resona Asset Management Co. Ltd. Acquires Shares of 216,652 Monster Beverage Co. (NASDAQ:MNST)

Resona Asset Management Co. Ltd. purchased a new position in Monster Beverage Co. (NASDAQ:MNST - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 216,652 shares of the company's stock, valued at approximately $11,387,000.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Monster Beverage by 62.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock valued at $28,000 after buying an additional 203 shares during the period. Spire Wealth Management acquired a new position in shares of Monster Beverage in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Monster Beverage during the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC acquired a new stake in Monster Beverage during the fourth quarter worth approximately $30,000. Finally, Geneos Wealth Management Inc. bought a new stake in Monster Beverage in the fourth quarter worth approximately $33,000. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

MNST traded up $0.06 during trading on Friday, reaching $57.83. 965,235 shares of the company were exchanged, compared to its average volume of 7,089,322. The company's 50-day moving average is $54.15 and its two-hundred day moving average is $52.88. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. Monster Beverage Co. has a 12-month low of $43.32 and a 12-month high of $60.34. The company has a market cap of $56.27 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 2.28 and a beta of 0.64.

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Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. Research analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BNP Paribas reduced their price objective on shares of Monster Beverage from $46.00 to $45.00 and set an "underperform" rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company increased their price objective on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a report on Friday, February 28th. Morgan Stanley increased their price target on Monster Beverage from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Monster Beverage from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Monster Beverage presently has an average rating of "Hold" and a consensus target price of $56.11.

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 48,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $54.89, for a total transaction of $2,634,720.00. Following the transaction, the director now directly owns 296,846 shares of the company's stock, valued at approximately $16,293,876.94. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Emelie Tirre sold 91,316 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the sale, the insider now owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,316 shares of company stock valued at $11,484,440. Company insiders own 7.80% of the company's stock.

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.