Monster Beverage Corporation $MNST Stock: Pictet Asset Management Holding SA Boosts Holdings

Pictet Asset Management Holding SA lifted its stake in Monster Beverage Corporation (NASDAQ:MNST) by 216.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,179,785 shares of the company’s stock after acquiring an additional 1,490,285 shares during the period. Pictet Asset Management Holding SA’s holdings in Monster Beverage were worth $90,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MNST. BlackRock Inc. purchased a new stake in Monster Beverage during the 2nd quarter worth approximately $5,770,004,000. Ninety One UK Ltd increased its stake in Monster Beverage by 89.1% during the 3rd quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company’s stock valued at $545,444,000 after purchasing an additional 6,175,047 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Monster Beverage by 0.8% in the first quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after buying an additional 99,168 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Monster Beverage by 23.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,637,514 shares of the company’s stock worth $553,414,000 after buying an additional 1,461,167 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Monster Beverage by 27.8% in the second quarter. Wellington Management Group LLP now owns 7,465,974 shares of the company’s stock worth $717,629,000 after buying an additional 1,624,416 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MNST has been the subject of several research reports. Weiss Ratings upgraded shares of Monster Beverage from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, November 3rd. Morgan Stanley boosted their price objective on shares of Monster Beverage from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, August 7th. BMO Capital Markets reissued a “market perform” rating and issued a $47.00 target price on shares of Monster Beverage in a research report on Monday. Piper Sandler raised their target price on Monster Beverage from $50.50 to $53.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BNP Paribas Exane restated a “neutral” rating and issued a $98.00 target price (up from $84.00) on shares of Monster Beverage in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus target price of $67.07.

Monster Beverage Stock Down 0.2%

Monster Beverage stock opened at $45.64 on Tuesday. The stock has a 50-day moving average price of $44.68 and a 200 day moving average price of $43.32. The company has a market capitalization of $89.41 billion, a price-to-earnings ratio of 43.33, a price-to-earnings-growth ratio of 3.07 and a beta of 0.51. Monster Beverage Corporation has a 52 week low of $34.69 and a 52 week high of $50.17.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Monster Beverage’s quarterly revenue was up 16.7% on a year-over-year basis. Research analysts anticipate that Monster Beverage Corporation will post 1.15 EPS for the current fiscal year.

Monster Beverage Profile

Monster Beverage Corporation develops, markets and sells energy drinks and other beverages. Its portfolio includes Monster Energy, Reign, NOS and Full Throttle, along with products in categories such as sports drinks, juices and alcoholic beverages.

The company traces its roots to Hansen’s, a beverage business established in the 1930s. It introduced the Monster Energy brand in 2002 and adopted the Monster Beverage name in 2012.

Based in Corona, California, Monster sells its products in the United States and internationally.