Picton Mahoney Asset Management Takes Position in Monster Beverage Corporation $MNST

Picton Mahoney Asset Management acquired a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,831 shares of the company’s stock, valued at approximately $1,066,000.

Several other institutional investors have also modified their holdings of MNST. Armstrong Advisory Group Inc. raised its holdings in shares of Monster Beverage by 49.0% during the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock valued at $30,000 after acquiring an additional 146 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Monster Beverage by 4.1% in the third quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock worth $265,000 after acquiring an additional 155 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Monster Beverage by 3.2% during the third quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock worth $353,000 after purchasing an additional 161 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Monster Beverage by 13.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock valued at $93,000 after purchasing an additional 176 shares during the last quarter. Finally, PDS Planning Inc lifted its holdings in Monster Beverage by 3.5% in the 3rd quarter. PDS Planning Inc now owns 5,750 shares of the company’s stock valued at $387,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

MNST has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Monster Beverage from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their price target on shares of Monster Beverage from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Monster Beverage in a research note on Monday, December 29th. Wells Fargo & Company increased their price objective on shares of Monster Beverage from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, TD Cowen raised their target price on shares of Monster Beverage from $80.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Insider Buying and Selling at Monster Beverage

In other news, Director Rodney C. Sacks sold 206,543 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $73.58, for a total transaction of $15,197,433.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares of the company’s stock, valued at $4,687,368.09. The trade was a 31.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 8.30% of the company’s stock.

Monster Beverage Price Performance

Shares of NASDAQ MNST opened at $76.70 on Friday. The company has a market capitalization of $74.94 billion, a P/E ratio of 39.54, a P/E/G ratio of 2.54 and a beta of 0.44. The company has a 50 day simple moving average of $80.22 and a 200-day simple moving average of $72.82. Monster Beverage Corporation has a 1 year low of $54.00 and a 1 year high of $87.38.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage Company 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.