Picton Mahoney Asset Management Has $1.03 Million Stake in Monster Beverage Corp (NASDAQ:MNST)

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Picton Mahoney Asset Management decreased its position in Monster Beverage Corp (NASDAQ:MNST) by 55.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,070 shares of the company’s stock after selling 20,130 shares during the period. Picton Mahoney Asset Management’s holdings in Monster Beverage were worth $1,025,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Schmidt P J Investment Management Inc. increased its stake in Monster Beverage by 3.2% in the second quarter. Schmidt P J Investment Management Inc. now owns 5,168 shares of the company’s stock valued at $330,000 after purchasing an additional 159 shares in the last quarter. Raymond James Trust N.A. increased its stake in Monster Beverage by 3.1% in the second quarter. Raymond James Trust N.A. now owns 5,579 shares of the company’s stock valued at $356,000 after purchasing an additional 169 shares in the last quarter. Stone Ridge Asset Management LLC increased its stake in Monster Beverage by 1.0% in the second quarter. Stone Ridge Asset Management LLC now owns 19,888 shares of the company’s stock valued at $1,269,000 after purchasing an additional 200 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Monster Beverage by 24.3% in the first quarter. Duncker Streett & Co. Inc. now owns 1,700 shares of the company’s stock valued at $93,000 after purchasing an additional 332 shares in the last quarter. Finally, Advisor Partners LLC increased its stake in Monster Beverage by 4.4% in the second quarter. Advisor Partners LLC now owns 8,025 shares of the company’s stock valued at $512,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.

In other Monster Beverage news, insider Guy Carling sold 24,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.82, for a total value of $1,579,680.00. Following the completion of the sale, the insider now directly owns 33,535 shares of the company’s stock, valued at approximately $2,207,273.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.20% of the company’s stock.

Shares of NASDAQ:MNST traded down $1.07 during midday trading on Friday, hitting $56.08. 2,430,158 shares of the company’s stock were exchanged, compared to its average volume of 3,722,426. The stock has a 50 day moving average price of $62.16 and a 200-day moving average price of $60.45. The company has a market cap of $31.16 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30. Monster Beverage Corp has a 12 month low of $47.74 and a 12 month high of $66.38.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Wednesday, August 7th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.03). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. Analysts expect that Monster Beverage Corp will post 2.05 EPS for the current fiscal year.

Several equities research analysts have weighed in on the stock. Wells Fargo & Co lifted their price target on shares of Monster Beverage from $56.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, May 29th. BMO Capital Markets decreased their price target on shares of Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $62.00 price target (down from $67.00) on shares of Monster Beverage in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Monster Beverage from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Credit Suisse Group set a $77.00 price target on shares of Monster Beverage and gave the company a “buy” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Monster Beverage has an average rating of “Hold” and a consensus target price of $65.21.

Monster Beverage Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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