Monster Beverage Corp. (MNST) Trading Down 1%
Monster Beverage Corp. (NASDAQ:MNST) fell 1% during mid-day trading on Tuesday . The company traded as low as $157.32 and last traded at $157.57, with a volume of 276,770 shares changing hands. The stock had previously closed at $159.17.
A number of brokerages have issued reports on MNST. Susquehanna reissued a “hold” rating on shares of Monster Beverage Corp. in a research note on Sunday, July 17th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $160.00 target price on shares of Monster Beverage Corp. in a research note on Tuesday, April 26th. Credit Agricole SA reissued a “buy” rating on shares of Monster Beverage Corp. in a research note on Tuesday, May 17th. Citigroup Inc. lifted their target price on shares of Monster Beverage Corp. from $170.00 to $199.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $160.00 target price on shares of Monster Beverage Corp. in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $164.10.
The company has a market cap of $29.96 billion and a P/E ratio of 49.12. The stock has a 50 day moving average of $159.90 and a 200-day moving average of $144.68.
Monster Beverage Corp. (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by $0.04. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm had revenue of $945.80 million for the quarter, compared to the consensus estimate of $804.24 million. Monster Beverage Corp.’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts predict that Monster Beverage Corp. will post $3.91 earnings per share for the current fiscal year.
In related news, CEO Rodney C. Sacks sold 2,396,288 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $156.00, for a total transaction of $373,820,928.00. Following the transaction, the chief executive officer now directly owns 1,799,053 shares of the company’s stock, valued at $280,652,268. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the transaction, the vice president now directly owns 5,717 shares in the company, valued at $912,776.22. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in MNST. Employees Retirement System of Texas raised its position in Monster Beverage Corp. by 21.1% in the fourth quarter. Employees Retirement System of Texas now owns 10,900 shares of the company’s stock worth $1,624,000 after buying an additional 1,900 shares in the last quarter. Airain ltd acquired a new position in Monster Beverage Corp. during the fourth quarter worth approximately $5,026,000. Finally, Schroder Investment Management Group raised its position in Monster Beverage Corp. by 36.5% in the fourth quarter. Schroder Investment Management Group now owns 273,552 shares of the company’s stock worth $40,748,000 after buying an additional 73,207 shares in the last quarter.
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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