Pictet Asset Management Holding SA Raises Holdings in Monster Beverage Corporation $MNST

Pictet Asset Management Holding SA lifted its position in Monster Beverage Corporation (NASDAQ:MNST) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its holdings in shares of Monster Beverage by 508.1% during the third quarter. Physician Wealth Advisors Inc. now owns 377 shares of the company’s stock worth $25,000 after purchasing an additional 315 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in Monster Beverage during the 3rd quarter valued at about $27,000. Harbor Investment Advisory LLC raised its position in Monster Beverage by 136.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 355 shares of the company’s stock valued at $27,000 after purchasing an additional 205 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Monster Beverage by 1,338.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after purchasing an additional 415 shares during the last quarter. Finally, First Horizon Corp bought a new position in Monster Beverage during the 3rd quarter valued at approximately $29,000. 72.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MNST shares. Deutsche Bank Aktiengesellschaft reduced their target price on Monster Beverage from $94.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Piper Sandler lifted their price target on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. UBS Group reduced their price objective on shares of Monster Beverage from $92.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Argus upped their price objective on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.55.

Monster Beverage Stock Down 0.4%

Shares of MNST stock opened at $76.89 on Thursday. The business’s fifty day moving average is $76.72 and its 200 day moving average is $75.68. The stock has a market cap of $75.19 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 2.69 and a beta of 0.51. Monster Beverage Corporation has a twelve month low of $58.09 and a twelve month high of $87.38.

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

About Monster Beverage

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.