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

Pictet Asset Management Holding SA lowered its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the 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 reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Monster Beverage by 62.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company's stock worth $28,000 after acquiring an additional 203 shares in the last quarter. Spire Wealth Management acquired a new stake in Monster Beverage in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in Monster Beverage during the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Monster Beverage during the fourth quarter valued at approximately $31,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Monster Beverage in the fourth quarter valued at approximately $33,000. Institutional investors own 72.36% of the company's stock.

Monster Beverage Price Performance

Shares of Monster Beverage stock traded down $2.57 during mid-day trading on Friday, reaching $57.08. 10,386,288 shares of the stock were exchanged, compared to its average volume of 7,004,753. The company has a market cap of $55.55 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. Monster Beverage Co. has a fifty-two week low of $43.32 and a fifty-two week high of $61.66. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $53.00 and a 200 day simple moving average of $52.63.

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Monster Beverage (NASDAQ:MNST - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. Monster Beverage had a return on equity of 23.31% and a net margin of 21.66%. On average, sell-side analysts predict that Monster Beverage Co. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MNST. Deutsche Bank Aktiengesellschaft raised their target price on shares of Monster Beverage from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Monster Beverage in a research report on Friday, February 28th. Morgan Stanley boosted their price objective on Monster Beverage from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Citigroup raised their target price on Monster Beverage from $62.00 to $64.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of "Hold" and an average target price of $56.11.

Insider Activity

In other news, insider Emelie Tirre sold 91,316 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 76,201 shares in the company, valued at approximately $4,220,011.38. The trade was a 54.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Guy Carling sold 47,000 shares of Monster Beverage stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $55.02, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 208,316 shares of company stock valued at $11,484,440 in the last 90 days. 7.80% of the stock is owned by company insiders.

About Monster Beverage

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.