Key Points
- Monster Beverage CEO Guy Carling sold 19,000 shares on June 10 at an average price of $90.90, totaling about $1.73 million. After the sale, he still owned 21,863 shares, and his stake fell by 46.5%.
- The stock has been trading near its 52-week high, opening at $92.83 versus a 12-month high of $93.08. Monster also has a market cap of about $90.8 billion and is trading above both its 50-day and 200-day moving averages.
- Monster reported strong quarterly results and authorized a buyback, with Q1 EPS of $0.58 beating estimates and revenue rising 22.6% year over year to $2.32 billion. Its board also approved a $500 million share repurchase program, while analysts currently rate the stock a “Moderate Buy.”
Monster Beverage Corporation (NASDAQ:MNST - Get Free Report) CEO Guy Carling sold 19,000 shares of Monster Beverage stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $90.90, for a total transaction of $1,727,100.00. Following the sale, the chief executive officer owned 21,863 shares of the company's stock, valued at $1,987,346.70. The trade was a 46.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Monster Beverage Trading Up 0.9%
NASDAQ:MNST opened at $92.83 on Friday. Monster Beverage Corporation has a 12 month low of $58.09 and a 12 month high of $93.08. The firm has a fifty day simple moving average of $82.16 and a 200-day simple moving average of $79.26. The company has a market capitalization of $90.79 billion, a P/E ratio of 44.85, a PEG ratio of 3.04 and a beta of 0.54.
Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 EPS 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 business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts forecast that Monster Beverage Corporation will post 2.31 EPS for the current year.
Monster Beverage announced that its board has approved a stock buyback program on Friday, May 15th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 0.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
MNST has been the subject of several research reports. Jefferies Financial Group set a $100.00 price objective on shares of Monster Beverage in a research note on Wednesday, March 11th. Stifel Nicolaus lowered their price objective on shares of Monster Beverage from $92.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Bank of America lowered their price objective on shares of Monster Beverage from $100.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Argus boosted their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Monster Beverage from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Monster Beverage has an average rating of "Moderate Buy" and a consensus price target of $89.35.
Read Our Latest Analysis on Monster Beverage
Institutional Trading of Monster Beverage
Large investors have recently bought and sold shares of the business. New York State Teachers Retirement System grew its stake in Monster Beverage by 3.4% during the 4th quarter. New York State Teachers Retirement System now owns 637,066 shares of the company's stock valued at $48,844,000 after acquiring an additional 21,169 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Monster Beverage by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company's stock valued at $122,303,000 after acquiring an additional 116,510 shares in the last quarter. Nordea Investment Management AB grew its stake in Monster Beverage by 12.2% during the 4th quarter. Nordea Investment Management AB now owns 880,061 shares of the company's stock valued at $67,738,000 after acquiring an additional 95,606 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Monster Beverage by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 67,483,584 shares of the company's stock valued at $4,542,320,000 after purchasing an additional 2,122,685 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in Monster Beverage by 27.0% in the 4th quarter. Ethic Inc. now owns 124,400 shares of the company's stock valued at $9,538,000 after purchasing an additional 26,419 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.
Monster Beverage Company Profile
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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.
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