Monster Beverage Corp (NASDAQ:MNST) EVP Thomas J. Kelly sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $60.07, for a total transaction of $1,982,310.00. Following the transaction, the executive vice president now directly owns 58,249 shares in the company, valued at approximately $3,499,017.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NASDAQ:MNST traded down $0.01 during trading hours on Monday, hitting $59.81. 2,176,445 shares of the company’s stock traded hands, compared to its average volume of 3,376,308. Monster Beverage Corp has a 52 week low of $47.74 and a 52 week high of $66.38. The company’s fifty day simple moving average is $57.54 and its two-hundred day simple moving average is $60.21. The company has a market cap of $32.16 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.16.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Monster Beverage Corp will post 2.04 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in shares of Monster Beverage in the second quarter worth about $26,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Monster Beverage in the second quarter worth about $32,000. Coastal Capital Group Inc. acquired a new position in shares of Monster Beverage in the second quarter worth about $34,000. Motco boosted its holdings in shares of Monster Beverage by 47.1% in the second quarter. Motco now owns 534 shares of the company’s stock worth $34,000 after buying an additional 171 shares during the period. Finally, Capital Bank & Trust Co boosted its holdings in shares of Monster Beverage by 114.3% in the second quarter. Capital Bank & Trust Co now owns 1,020 shares of the company’s stock worth $65,000 after buying an additional 544 shares during the period. Institutional investors own 65.94% of the company’s stock.
MNST has been the topic of several research analyst reports. Wells Fargo & Co lowered their target price on shares of Monster Beverage from $59.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. BidaskClub cut shares of Monster Beverage from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Credit Suisse Group reissued an “outperform” rating and set a $77.00 target price on shares of Monster Beverage in a research note on Wednesday, August 28th. Zacks Investment Research raised shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 target price on the stock in a research note on Tuesday, October 1st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $62.00 target price (down previously from $67.00) on shares of Monster Beverage in a research note 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.80.
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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