Pictet Asset Management Holding SA Purchases 1,490,285 Shares of Monster Beverage Corporation $MNST

Pictet Asset Management Holding SA increased its position in shares of Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 216.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,179,785 shares of the company's stock after buying an additional 1,490,285 shares during the period. Pictet Asset Management Holding SA owned about 0.11% of Monster Beverage worth $90,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Monster Beverage in the 2nd quarter valued at about $5,770,004,000. Bank of America Corp DE purchased a new stake in shares of Monster Beverage in the 2nd quarter worth approximately $1,195,360,000. Ninety One UK Ltd increased its holdings in Monster Beverage by 89.1% during the third quarter. Ninety One UK Ltd now owns 13,105,329 shares of the company's stock valued at $545,444,000 after buying an additional 6,175,047 shares during the period. Jupiter Topco LLC purchased a new position in Monster Beverage during the second quarter valued at approximately $593,075,000. Finally, Legal & General Group Plc bought a new position in Monster Beverage in the second quarter worth approximately $478,694,000. 72.36% of the stock is currently owned by institutional investors.

Monster Beverage Stock Down 0.2%

Shares of MNST opened at $45.64 on Tuesday. The company has a market cap 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 twelve month low of $34.69 and a twelve month high of $50.17. The company has a 50 day moving average of $44.68 and a two-hundred day moving average of $43.32.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. Monster Beverage had a net margin of 23.08% and a return on equity of 26.02%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. On average, sell-side analysts expect that Monster Beverage Corporation will post 1.15 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Monster Beverage from $49.50 to $49.00 and set a "neutral" rating for the company in a report on Monday, October 26th. Weiss Ratings upgraded Monster Beverage from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, November 3rd. BNP Paribas Exane reiterated a "neutral" rating and issued a $98.00 price target (up from $84.00) on shares of Monster Beverage in a report on Monday, September 28th. Zacks Research raised Monster Beverage from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $100.00 price objective (up from $98.00) on shares of Monster Beverage in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Monster Beverage has a consensus rating of "Moderate Buy" and an average price target of $67.07.

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.

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