Monster Beverage Corp (NASDAQ:MNST)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $66.54 and last traded at $66.48, with a volume of 38559 shares trading hands. The stock had previously closed at $65.88.
A number of research firms have commented on MNST. Credit Suisse Group reiterated a “buy” rating and issued a $77.00 price target on shares of Monster Beverage in a research note on Friday, January 10th. Zacks Investment Research lowered Monster Beverage from a “buy” rating to a “hold” rating and set a $69.00 price objective on the stock. in a report on Monday. Cowen lowered Monster Beverage from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $69.00 to $65.00 in a report on Thursday, October 17th. Guggenheim lowered Monster Beverage from a “buy” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $60.00 in a report on Wednesday, October 2nd. Finally, Deutsche Bank increased their price objective on Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. Monster Beverage has a consensus rating of “Hold” and a consensus target price of $65.94.
The stock has a market capitalization of $35.26 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16. The firm has a fifty day moving average of $62.64 and a 200 day moving average of $60.14.
Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, November 7th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm 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%. Monster Beverage’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Sell-side analysts predict that Monster Beverage Corp will post 2.04 EPS for the current fiscal year.
In other Monster Beverage news, insider Emelie Tirre sold 10,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $58.58, for a total transaction of $615,090.00. Following the transaction, the insider now owns 63,101 shares in the company, valued at $3,696,456.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Guy Carling sold 42,750 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.32, for a total value of $2,664,180.00. Following the transaction, the insider now owns 35,785 shares in the company, valued at approximately $2,230,121.20. The disclosure for this sale can be found here. Insiders have sold 86,250 shares of company stock worth $5,261,580 in the last quarter. 10.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sciencast Management LP purchased a new position in shares of Monster Beverage in the fourth quarter valued at approximately $2,248,000. Cerebellum GP LLC increased its stake in Monster Beverage by 11.1% during the fourth quarter. Cerebellum GP LLC now owns 8,655 shares of the company’s stock worth $550,000 after acquiring an additional 863 shares during the last quarter. AE Wealth Management LLC increased its stake in Monster Beverage by 26.8% during the fourth quarter. AE Wealth Management LLC now owns 16,475 shares of the company’s stock worth $1,047,000 after acquiring an additional 3,481 shares during the last quarter. Raymond James Trust N.A. increased its stake in Monster Beverage by 3.6% during the fourth quarter. Raymond James Trust N.A. now owns 6,021 shares of the company’s stock worth $383,000 after acquiring an additional 211 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA increased its stake in Monster Beverage by 1.8% during the fourth quarter. Marshall & Sullivan Inc. WA now owns 48,846 shares of the company’s stock worth $3,104,000 after acquiring an additional 858 shares during the last quarter. Institutional investors and hedge funds own 65.92% of the company’s stock.
Monster Beverage Company Profile (NASDAQ:MNST)
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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