Monster Beverage Corp. (MNST) Trading Down 1%
Monster Beverage Corp. (NASDAQ:MNST)’s share price traded down 1% during trading on Tuesday . The company traded as low as $157.32 and last traded at $157.57, with a volume of 276,770 shares traded. The stock had previously closed at $159.17.
A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Monster Beverage Corp. from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Credit Agricole SA reiterated a “buy” rating and set a $185.00 target price (up previously from $175.00) on shares of Monster Beverage Corp. in a research note on Friday, June 17th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Monster Beverage Corp. in a research note on Friday, July 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Monster Beverage Corp. in a research note on Friday, July 15th. Finally, Susquehanna reiterated a “hold” rating on shares of Monster Beverage Corp. in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $164.10.
The stock has a 50-day moving average of $159.79 and a 200-day moving average of $144.76. The stock has a market capitalization of $29.99 billion and a PE ratio of 49.174.
Monster Beverage Corp. (NASDAQ:MNST) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by $0.04. The company had revenue of $945.80 million for the quarter, compared to analysts’ expectations of $804.24 million. Monster Beverage Corp.’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. Equities analysts predict that Monster Beverage Corp. will post $3.91 EPS for the current fiscal year.
In other news, VP Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total value of $1,596,600.00. Following the completion of the sale, the vice president now owns 5,717 shares of the company’s stock, valued at approximately $912,776.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harold C. Taber, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $154.14, for a total transaction of $770,700.00. Following the completion of the sale, the director now directly owns 30,684 shares of the company’s stock, valued at approximately $4,729,631.76. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Monster Beverage Corp. stock. Employees Retirement System of Texas increased its stake in Monster Beverage Corp. (NASDAQ:MNST) by 21.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,900 shares of the company’s stock after buying an additional 1,900 shares during the period. Employees Retirement System of Texas’ holdings in Monster Beverage Corp. were worth $1,624,000 at the end of the most recent 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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