Monster Beverage Shares Set to Split on Tuesday, August 11th (NASDAQ:MNST)

Monster Beverage Corporation (NASDAQ:MNST) shares are set to split before the market opens on Tuesday, August 11th. The 2-1 split was announced on Wednesday, July 8th. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Monster Beverage Stock Down 0.5%

Shares of NASDAQ MNST opened at $97.23 on Thursday. The business’s 50 day moving average price is $93.37 and its two-hundred day moving average price is $83.99. The company has a market cap of $95.09 billion, a PE ratio of 46.97, a price-to-earnings-growth ratio of 3.18 and a beta of 0.53. Monster Beverage has a twelve month low of $58.09 and a twelve month high of $100.34.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, research analysts anticipate that Monster Beverage will post 2.3 EPS for the current fiscal year.

Monster Beverage declared that its board has authorized a share repurchase program on Friday, May 15th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

MNST has been the subject of several research reports. TD Cowen raised their price target on Monster Beverage from $90.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 8th. Citigroup downgraded shares of Monster Beverage from a “buy” rating to a “positive” rating in a report on Monday, July 20th. Evercore increased their price objective on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley set a $103.00 target price on shares of Monster Beverage and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Wells Fargo & Company lifted their target price on shares of Monster Beverage from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus price target of $94.65.

Insider Transactions at Monster Beverage

In related news, insider Emelie Tirre sold 88,700 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $85.96, for a total value of $7,624,652.00. Following the completion of the sale, the insider directly owned 81,763 shares in the company, valued at $7,028,347.48. The trade was a 52.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark J. Hall sold 54,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total value of $4,633,740.00. Following the completion of the transaction, the director directly owned 299,246 shares in the company, valued at approximately $25,678,299.26. This represents a 15.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 178,700 shares of company stock worth $15,457,562 in the last ninety days. 8.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently modified their holdings of MNST. Jones Financial Companies Lllp grew its stake in shares of Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after acquiring an additional 12,148 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Monster Beverage by 247.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock valued at $813,000 after purchasing an additional 9,251 shares during the period. Cresset Asset Management LLC boosted its holdings in Monster Beverage by 23.9% in the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock valued at $417,000 after purchasing an additional 1,281 shares during the period. Federated Hermes Inc. grew its position in shares of Monster Beverage by 55.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock worth $301,000 after purchasing an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Monster Beverage by 151.7% during the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after purchasing an additional 20,538 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.