Monster Beverage Corp (NASDAQ:MNST) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 11,850,000 shares, an increase of 5.1% from the October 31st total of 11,280,000 shares. Based on an average trading volume of 2,860,000 shares, the days-to-cover ratio is presently 4.1 days. Approximately 3.1% of the company’s stock are sold short.
A number of research firms have weighed in on MNST. Credit Suisse Group restated an “outperform” rating and issued a $77.00 price target on shares of Monster Beverage in a report on Wednesday, August 28th. Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 price target for the company in a report on Tuesday, October 1st. Cowen lowered Monster Beverage from an “outperform” rating to a “market perform” rating and cut their target price for the company from $69.00 to $65.00 in a research report on Thursday, October 17th. Guggenheim lowered Monster Beverage from a “buy” rating to a “neutral” rating and cut their target price for the company from $74.00 to $60.00 in a research report on Wednesday, October 2nd. Finally, UBS Group reaffirmed a “sell” rating and issued a $52.00 target price (down from $53.00) on shares of Monster Beverage in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.93.
Shares of MNST traded down $0.27 during trading on Friday, reaching $59.82. The company’s stock had a trading volume of 1,099,354 shares, compared to its average volume of 3,129,023. The company has a fifty day moving average of $57.34 and a two-hundred day moving average of $60.25. Monster Beverage has a twelve month low of $47.74 and a twelve month high of $66.38. The company has a market cap of $32.07 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 2.05 and a beta of 1.17.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Monster Beverage had a return on equity of 28.23% and a net margin of 26.58%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. On average, analysts anticipate that Monster Beverage will post 2.04 earnings per share for the current fiscal year.
In other Monster Beverage news, insider Emelie Tirre sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $58.58, for a total value of $615,090.00. Following the completion of the transaction, the insider now owns 63,101 shares in the company, valued at approximately $3,696,456.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.20% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Westside Investment Management Inc. purchased a new stake in shares of Monster Beverage during the second quarter valued at $26,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Monster Beverage in the second quarter valued at approximately $32,000. Coastal Capital Group Inc. acquired a new position in shares of Monster Beverage in the second quarter valued at approximately $34,000. Motco grew its position in shares of Monster Beverage by 47.1% in the second quarter. Motco now owns 534 shares of the company’s stock valued at $34,000 after purchasing an additional 171 shares during the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Monster Beverage in the second quarter valued at approximately $50,000. 65.94% of the stock is currently owned by institutional investors and hedge funds.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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