Pictet Asset Management Holding SA Has $16.78 Million Stock Position in Monster Beverage Co. (NASDAQ:MNST)

Pictet Asset Management Holding SA reduced its position in Monster Beverage Co. (NASDAQ:MNST) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,169 shares of the company’s stock after selling 14,058 shares during the period. Pictet Asset Management Holding SA’s holdings in Monster Beverage were worth $16,776,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MNST. Paloma Partners Management Co lifted its stake in shares of Monster Beverage by 260.2% in the 3rd quarter. Paloma Partners Management Co now owns 20,742 shares of the company’s stock valued at $1,082,000 after purchasing an additional 14,984 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Monster Beverage by 3,999.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 39,809 shares of the company’s stock worth $2,076,000 after acquiring an additional 38,838 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Monster Beverage by 5.5% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 459,495 shares of the company’s stock valued at $23,972,000 after acquiring an additional 23,906 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Monster Beverage during the 3rd quarter valued at about $73,600,000. Finally, Hilltop Holdings Inc. acquired a new stake in Monster Beverage in the 3rd quarter worth approximately $620,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on MNST shares. Deutsche Bank Aktiengesellschaft increased their price target on Monster Beverage from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 28th. Needham & Company LLC reissued a “hold” rating on shares of Monster Beverage in a research report on Friday, February 28th. Morgan Stanley upped their price target on shares of Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Monster Beverage from $51.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $59.00 target price on shares of Monster Beverage in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Hold” and an average target price of $55.83.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 47,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.02, for a total value of $2,585,940.00. Following the transaction, the insider now directly owns 21,993 shares in the company, valued at $1,210,054.86. The trade was a 68.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the sale, the insider now directly owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,316 shares of company stock worth $11,484,440 over the last three months. Company insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $59.04 on Wednesday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $59.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The firm has a market cap of $57.46 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. The firm’s 50-day simple moving average is $52.56 and its 200-day simple moving average is $52.53.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. As a group, research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

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.