Investors Buy Shares of Monster Beverage Corp. (MNST) on Weakness
Traders bought shares of Monster Beverage Corp. (NASDAQ:MNST) on weakness during trading on Friday. $25.49 million flowed into the stock on the tick-up and $17.40 million flowed out of the stock on the tick-down, for a money net flow of $8.09 million into the stock. Of all stocks tracked, Monster Beverage Corp. had the 18th highest net in-flow for the day. Monster Beverage Corp. traded down ($0.42) for the day and closed at $157.04
MNST has been the topic of several research reports. Credit Agricole SA restated a “buy” rating on shares of Monster Beverage Corp. in a research report on Monday, August 22nd. Vetr upgraded Monster Beverage Corp. from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Monday, May 9th. Wells Fargo & Co. restated a “buy” rating on shares of Monster Beverage Corp. in a research report on Monday, June 27th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $172.00 target price (down previously from $173.00) on shares of Monster Beverage Corp. in a research report on Wednesday, June 29th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $165.00 target price on shares of Monster Beverage Corp. in a research report on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $164.10.
The company has a market capitalization of $29.89 billion and a PE ratio of 49.01. The company has a 50-day moving average of $159.57 and a 200-day moving average of $145.13.
Monster Beverage Corp. (NASDAQ:MNST) last posted its earnings results on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by $0.04. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The company earned $945.80 million during the quarter, compared to analysts’ expectations of $804.24 million. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage Corp. will post $3.91 earnings per share for the current fiscal year.
In related news, VP Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $159.66, for a total value of $1,596,600.00. Following 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 filing with the SEC, which is available through this link. Also, CEO Rodney C. Sacks sold 2,396,288 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were 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 directly owns 1,799,053 shares in the company, valued at approximately $280,652,268. 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 position in shares of Monster Beverage Corp. (NASDAQ:MNST) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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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