Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Monster Beverage Corp (NASDAQ:MNST) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,858 shares of the company’s stock after buying an additional 3,624 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Monster Beverage were worth $3,212,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in Monster Beverage by 18.1% during the 4th quarter. Bessemer Group Inc. now owns 1,277 shares of the company’s stock valued at $62,000 after purchasing an additional 196 shares during the period. Utah Retirement Systems grew its holdings in Monster Beverage by 0.3% during the 4th quarter. Utah Retirement Systems now owns 74,395 shares of the company’s stock valued at $3,662,000 after buying an additional 200 shares in the last quarter. First Hawaiian Bank grew its holdings in Monster Beverage by 1.5% during the 1st quarter. First Hawaiian Bank now owns 13,580 shares of the company’s stock valued at $741,000 after buying an additional 200 shares in the last quarter. Securian Asset Management Inc grew its holdings in Monster Beverage by 0.7% during the 4th quarter. Securian Asset Management Inc now owns 41,170 shares of the company’s stock valued at $2,026,000 after buying an additional 286 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Monster Beverage by 23.7% in the 4th quarter. Parallel Advisors LLC now owns 1,700 shares of the company’s stock worth $83,000 after purchasing an additional 326 shares during the period. 66.03% of the stock is currently owned by hedge funds and other institutional investors.
MNST opened at $57.99 on Friday. The firm has a market capitalization of $31.52 billion, a PE ratio of 32.40, a P/E/G ratio of 2.09 and a beta of 1.53. Monster Beverage Corp has a 12 month low of $47.61 and a 12 month high of $66.38.
MNST has been the subject of a number of recent analyst reports. ValuEngine upgraded Monster Beverage from a “hold” rating to a “buy” rating in a report on Friday, March 1st. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Wednesday, January 23rd. Jefferies Financial Group restated a “buy” rating and set a $71.00 price objective on shares of Monster Beverage in a report on Friday, January 18th. Finally, SunTrust Banks boosted their price objective on Monster Beverage to $70.00 and gave the company a “buy” rating in a report on Thursday, February 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $62.09.
In other Monster Beverage news, Director Harold C. Taber, Jr. sold 11,772 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total transaction of $748,463.76. Following the sale, the director now owns 72,240 shares in the company, valued at approximately $4,593,019.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas J. Kelly sold 25,719 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $59.68, for a total value of $1,534,909.92. Following the sale, the executive vice president now owns 35,370 shares in the company, valued at approximately $2,110,881.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,253 shares of company stock worth $3,842,637. 9.70% of the stock is owned by company insiders.
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Monster Beverage Company Profile
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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