Monster Beverage Corp. (MNST) Hits New 12-Month High at $162.33
Monster Beverage Corp. (NASDAQ:MNST)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $162.33 and last traded at $161.13, with a volume of 439,982 shares trading hands. The stock had previously closed at $161.26.
Several equities analysts have commented on MNST shares. Goldman Sachs Group Inc. upgraded Monster Beverage Corp. from a “buy” rating to a “conviction-buy” rating and increased their target price for the company from $157.00 to $160.00 in a research report on Wednesday, March 16th. Bank of America Corp. started coverage on Monster Beverage Corp. in a research report on Tuesday, March 22nd. They issued a “neutral” rating and a $144.00 target price for the company. Vetr upgraded Monster Beverage Corp. from a “hold” rating to a “strong-buy” rating and set a $147.33 target price for the company in a research report on Monday, April 11th. Royal Bank Of Canada reiterated a “buy” rating on shares of Monster Beverage Corp. in a research report on Tuesday, April 26th. Finally, Susquehanna reiterated a “hold” rating and issued a $132.00 target price on shares of Monster Beverage Corp. in a research report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $158.15.
The company has a market cap of $32.79 billion and a P/E ratio of 46.00. The firm’s 50-day moving average price is $154.66 and its 200-day moving average price is $140.57.
Monster Beverage Corp. (NASDAQ:MNST) last released its earnings results on Friday, April 29th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The company earned $680.20 million during the quarter, compared to the consensus estimate of $656.78 million. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. Equities research analysts forecast that Monster Beverage Corp. will post $3.91 EPS for the current fiscal year.
In other news, CEO Rodney C. Sacks sold 2,396,288 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $156.00, for a total value of $373,820,928.00. Following the completion of the sale, the chief executive officer now owns 1,799,053 shares of the company’s stock, valued at approximately $280,652,268. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Hilton H. Schlosberg sold 2,001,350 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $156.00, for a total value of $312,210,600.00. Following the completion of the sale, the insider now directly owns 1,305,501 shares of the company’s stock, valued at approximately $203,658,156. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in MNST. Wellington Shields Capital Management LLC bought a new stake in Monster Beverage Corp. during the fourth quarter worth $1,013,000. Tredje AP fonden raised its position in Monster Beverage Corp. by 1.7% in the fourth quarter. Tredje AP fonden now owns 9,707 shares of the company’s stock worth $1,446,000 after buying an additional 160 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Monster Beverage Corp. by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,801 shares of the company’s stock worth $1,460,000 after buying an additional 31 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Monster Beverage Corp. during the fourth quarter worth approximately $1,506,000. Finally, Cavalier Investments acquired a new position in Monster Beverage Corp. during the fourth quarter worth approximately $1,519,000.
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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