Key Points
- Insider Emelie Tirre sold 88,700 Monster Beverage shares on May 13 at an average price of $85.96, totaling about $7.62 million. The sale cut her direct stake by 52.03%.
- Monster Beverage beat quarterly earnings and revenue estimates, reporting $0.58 EPS versus $0.53 expected and $2.32 billion in revenue versus $2.16 billion expected. Revenue rose 22.6% year over year.
- The company’s board authorized a $500 million share buyback, which would allow repurchases of up to 0.6% of outstanding shares. Analysts currently have a Moderate Buy consensus with an average price target of $88.37.
Monster Beverage Corporation (NASDAQ:MNST - Get Free Report) CFO Thomas Kelly sold 7,000 shares of Monster Beverage stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $87.81, for a total transaction of $614,670.00. Following the completion of the transaction, the chief financial officer owned 62,553 shares of the company's stock, valued at $5,492,778.93. This trade represents a 10.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Monster Beverage Price Performance
MNST stock opened at $87.09 on Friday. The company has a 50 day moving average price of $76.55 and a 200 day moving average price of $76.59. Monster Beverage Corporation has a fifty-two week low of $58.09 and a fifty-two week high of $88.77. The stock has a market capitalization of $85.17 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50.
Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the previous year, the company posted $0.47 EPS. Monster Beverage's revenue was up 22.6% on a year-over-year basis. As a group, equities analysts expect that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.
Monster Beverage declared that its board has authorized a stock repurchase program on Friday, May 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Trading of Monster Beverage
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Monster Beverage by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 67,980,692 shares of the company's stock worth $5,212,080,000 after acquiring an additional 497,108 shares during the period. State Street Corp grew its holdings in Monster Beverage by 0.8% during the 4th quarter. State Street Corp now owns 38,021,648 shares of the company's stock worth $2,915,120,000 after acquiring an additional 302,557 shares during the period. Geode Capital Management LLC grew its holdings in Monster Beverage by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 19,625,097 shares of the company's stock worth $1,509,369,000 after acquiring an additional 330,766 shares during the period. Invesco Ltd. grew its holdings in Monster Beverage by 6.3% during the 3rd quarter. Invesco Ltd. now owns 11,675,603 shares of the company's stock worth $785,885,000 after acquiring an additional 692,192 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Monster Beverage by 18.4% during the 4th quarter. Schroder Investment Management Group now owns 9,676,260 shares of the company's stock worth $741,879,000 after acquiring an additional 1,500,577 shares during the period. Institutional investors and hedge funds own 72.36% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on MNST. Citigroup boosted their price objective on shares of Monster Beverage from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. UBS Group restated a "neutral" rating and issued a $84.00 price objective (up from $80.00) on shares of Monster Beverage in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price objective on shares of Monster Beverage from $86.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their price objective on shares of Monster Beverage from $85.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Argus boosted their price objective on shares of Monster Beverage from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Monster Beverage presently has a consensus rating of "Moderate Buy" and an average price target of $88.37.
Read Our Latest Stock Report on Monster Beverage
About Monster Beverage
(
Get Free Report)
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.
Further Reading
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