Picton Mahoney Asset Management Cuts Position in Monster Beverage Co. (NASDAQ:MNST)

Picton Mahoney Asset Management trimmed its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,605 shares of the company’s stock after selling 7,240 shares during the period. Picton Mahoney Asset Management’s holdings in Monster Beverage were worth $2,397,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Peoples Bank KS acquired a new position in Monster Beverage in the third quarter valued at approximately $26,000. Headinvest LLC acquired a new position in Monster Beverage in the third quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Monster Beverage in the third quarter valued at approximately $31,000. Catalyst Capital Advisors LLC boosted its holdings in Monster Beverage by 34.6% in the third quarter. Catalyst Capital Advisors LLC now owns 774 shares of the company’s stock valued at $41,000 after purchasing an additional 199 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new position in Monster Beverage in the third quarter valued at approximately $53,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Monster Beverage Stock Performance

NASDAQ:MNST traded down $0.37 during trading hours on Wednesday, hitting $54.30. The company’s stock had a trading volume of 6,701,281 shares, compared to its average volume of 5,591,955. The business’s 50-day moving average is $56.78 and its two-hundred day moving average is $55.92. The company has a market capitalization of $56.57 billion, a PE ratio of 34.15, a PEG ratio of 2.27 and a beta of 0.74. Monster Beverage Co. has a 52-week low of $47.13 and a 52-week high of $61.22.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, analysts predict that Monster Beverage Co. will post 1.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MNST shares. Redburn Atlantic started coverage on Monster Beverage in a report on Wednesday, March 6th. They issued a “buy” rating for the company. Jefferies Financial Group increased their price objective on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 29th. HSBC decreased their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Royal Bank of Canada increased their price objective on Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, BMO Capital Markets decreased their price objective on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.32.

Insider Activity

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the completion of the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.40% of the company’s stock.

Monster Beverage 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.