Sumitomo Mitsui Trust Group Inc. Has $92.72 Million Position in Monster Beverage Co. (NASDAQ:MNST)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,777,230 shares of the company's stock after selling 16,955 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Monster Beverage worth $92,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ninety One UK Ltd lifted its stake in Monster Beverage by 93.9% in the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company's stock worth $373,519,000 after acquiring an additional 3,620,436 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Monster Beverage by 1,148.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company's stock worth $135,480,000 after purchasing an additional 2,388,798 shares in the last quarter. AMF Tjanstepension AB purchased a new stake in shares of Monster Beverage in the second quarter worth approximately $81,757,000. Vanguard Group Inc. lifted its position in shares of Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company's stock worth $3,837,867,000 after purchasing an additional 1,059,042 shares in the last quarter. Finally, Ossiam lifted its position in shares of Monster Beverage by 5,185.8% in the first quarter. Ossiam now owns 1,069,366 shares of the company's stock worth $63,392,000 after purchasing an additional 1,049,135 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Stock Performance

Shares of Monster Beverage stock traded up $0.16 during midday trading on Thursday, hitting $56.54. The company had a trading volume of 3,923,532 shares, compared to its average volume of 6,957,435. The business's 50 day simple moving average is $52.18 and its two-hundred day simple moving average is $51.06. The stock has a market cap of $54.99 billion, a PE ratio of 36.24, a P/E/G ratio of 2.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51. Monster Beverage Co. has a 1-year low of $43.32 and a 1-year high of $61.22.

Analysts Set New Price Targets

MNST has been the subject of a number of research analyst reports. Argus increased their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday. Evercore ISI reduced their price target on shares of Monster Beverage from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Roth Mkm reduced their price target on shares of Monster Beverage from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Wells Fargo & Company increased their price target on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Monster Beverage currently has an average rating of "Moderate Buy" and a consensus target price of $56.45.

Monster Beverage Company 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.