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

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

Monster Beverage Stock Performance

Shares of MNST opened at $96.38 on Monday. The firm has a market capitalization of $94.26 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 3.14 and a beta of 0.53. Monster Beverage has a one year low of $58.09 and a one year high of $100.34. The stock’s fifty day moving average is $93.79 and its 200-day moving average is $84.26.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Analysts forecast that Monster Beverage will post 2.31 EPS for the current fiscal year.

Monster Beverage declared that its board has approved a stock buyback plan on Friday, May 15th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 report on Friday, May 8th. Weiss Ratings downgraded Monster Beverage from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $95.00 price target (up from $73.00) on shares of Monster Beverage in a research note on Monday, July 20th. Citigroup cut Monster Beverage from a “buy” rating to a “positive” rating in a research report on Monday, July 20th. Finally, Stifel Nicolaus upped their price objective on Monster Beverage from $90.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.65.

Insider Activity at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $85.74, for a total value of $857,400.00. Following the completion of the sale, the insider owned 71,763 shares in the company, valued at $6,152,959.62. This represents a 12.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of Monster Beverage stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total transaction of $4,633,740.00. Following the sale, the director directly owned 299,246 shares of the company’s stock, valued at $25,678,299.26. This trade represents a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 178,700 shares of company stock valued at $15,457,562 over the last ninety days. 8.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Monster Beverage

Several institutional investors and hedge funds have recently modified their holdings of MNST. Newbridge Financial Services Group Inc. raised its holdings in Monster Beverage by 1,338.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 446 shares of the company’s stock valued at $28,000 after buying an additional 415 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of Monster Beverage during the 4th quarter worth about $30,000. Meeder Asset Management Inc. increased its holdings in shares of Monster Beverage by 355.8% during the 1st quarter. Meeder Asset Management Inc. now owns 474 shares of the company’s stock valued at $34,000 after acquiring an additional 370 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Monster Beverage during the 4th quarter valued at about $35,000. Finally, Miller Capital Partners Inc. bought a new position in shares of Monster Beverage in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

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.