Traders Buy Monster Beverage Corp. (MNST) on Weakness
Traders bought shares of Monster Beverage Corp. (NASDAQ:MNST) on weakness during trading hours 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
Several equities research analysts recently issued reports on MNST shares. Jefferies Group reiterated a “hold” rating on shares of Monster Beverage Corp. in a report on Monday, August 1st. Susquehanna restated a “hold” rating and set a $132.00 target price on shares of Monster Beverage Corp. in a report on Wednesday, June 15th. Wells Fargo & Co. restated a “buy” rating on shares of Monster Beverage Corp. in a report on Wednesday, June 15th. 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 report on Monday, May 9th. Finally, Citigroup Inc. boosted their target price on Monster Beverage Corp. from $170.00 to $199.00 and gave the stock a “buy” rating in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $164.10.
The stock’s 50 day moving average price is $159.57 and its 200 day moving average price is $145.13. The stock has a market cap of $29.89 billion and a P/E ratio of 49.01.
Monster Beverage Corp. (NASDAQ:MNST) last issued its earnings results on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.03 by $0.04. The business had revenue of $945.80 million for the quarter, compared to the consensus estimate of $804.24 million. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts expect that Monster Beverage Corp. will post $3.91 EPS for the current year.
In other news, Director Harold C. Taber, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $154.14, for a total value of $770,700.00. Following the sale, the director now directly owns 30,684 shares in the company, valued at $4,729,631.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the completion of the sale, the vice president now owns 5,717 shares in the company, valued at $912,776.22. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Monster Beverage Corp. stock. Employees Retirement System of Texas raised its stake in shares of Monster Beverage Corp. (NASDAQ:MNST) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.
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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