Pictet Asset Management Holding SA Buys 9,700 Shares of Monster Beverage Corporation $MNST

Pictet Asset Management Holding SA boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 464,657 shares of the company’s stock after purchasing an additional 9,700 shares during the period. Pictet Asset Management Holding SA’s holdings in Monster Beverage were worth $35,630,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its stake in shares of Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock worth $890,000 after acquiring an additional 12,148 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Monster Beverage by 247.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after purchasing an additional 9,251 shares during the last quarter. Cresset Asset Management LLC boosted its stake in Monster Beverage by 23.9% in the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock worth $417,000 after purchasing an additional 1,281 shares in the last quarter. Federated Hermes Inc. boosted its stake in Monster Beverage by 55.9% in the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after purchasing an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Monster Beverage by 151.7% during the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock valued at $2,134,000 after purchasing an additional 20,538 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Monster Beverage from $92.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. JPMorgan Chase & Co. increased their price target on shares of Monster Beverage from $79.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, February 27th. Wells Fargo & Company decreased their price objective on shares of Monster Beverage from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Monster Beverage from $94.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Citigroup increased their target price on Monster Beverage from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus target price of $84.55.

Monster Beverage Stock Down 0.4%

MNST opened at $76.89 on Thursday. The stock has a market capitalization of $75.19 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 2.69 and a beta of 0.51. The firm has a 50 day moving average price of $76.72 and a 200-day moving average price of $75.68. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $87.38.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, February 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a net margin of 22.97% and a return on equity of 27.38%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company posted $0.39 earnings per share. As a group, analysts expect that Monster Beverage Corporation will post 2.29 earnings per share for the current year.

Monster Beverage Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.