Asahi Life Asset Management CO. LTD. Acquires Shares of 7,700 Monster Beverage Co. (NASDAQ:MNST)

Asahi Life Asset Management CO. LTD. bought a new position in Monster Beverage Co. (NASDAQ:MNST) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,700 shares of the company’s stock, valued at approximately $402,000.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in Monster Beverage by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,652 shares of the company’s stock valued at $1,461,000 after purchasing an additional 516 shares during the period. Vicus Capital purchased a new stake in Monster Beverage during the first quarter worth about $256,000. Founders Financial Securities LLC raised its position in Monster Beverage by 5.1% in the first quarter. Founders Financial Securities LLC now owns 10,699 shares of the company’s stock worth $634,000 after acquiring an additional 516 shares during the period. Azzad Asset Management Inc. ADV boosted its stake in Monster Beverage by 0.8% in the first quarter. Azzad Asset Management Inc. ADV now owns 40,380 shares of the company’s stock valued at $2,394,000 after acquiring an additional 302 shares during the last quarter. Finally, KFG Wealth Management LLC boosted its stake in Monster Beverage by 6.4% in the first quarter. KFG Wealth Management LLC now owns 7,772 shares of the company’s stock valued at $461,000 after acquiring an additional 466 shares during the last quarter. 72.36% of the stock is owned by institutional investors.

Monster Beverage Price Performance

MNST stock traded down $0.29 during mid-day trading on Monday, hitting $53.08. 574,603 shares of the stock were exchanged, compared to its average volume of 6,943,902. The business has a fifty day moving average price of $50.39 and a 200 day moving average price of $51.03. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69. The stock has a market capitalization of $55.29 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.43 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Monster Beverage Co. will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MNST shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Monster Beverage from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets dropped their price objective on shares of Monster Beverage from $56.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced their target price on shares of Monster Beverage from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Finally, UBS Group upped their price target on shares of Monster Beverage from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.68.

About Monster Beverage

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.