Monster Beverage Corporation (NASDAQ:MNST – Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $94.88 and last traded at $92.99, with a volume of 339181 shares traded. The stock had previously closed at $93.02.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on MNST. TD Cowen dropped their target price on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 20th. Piper Sandler raised their price objective on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Bank of America dropped their price objective on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a report on Friday, April 10th. JPMorgan Chase & Co. cut their target price on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.35.
Get Our Latest Analysis on MNST
Monster Beverage Price Performance
Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. Analysts expect that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.
Monster Beverage announced that its board has authorized a stock repurchase program on Friday, May 15th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Monster Beverage
In other news, Director Mark J. Hall sold 54,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $85.81, for a total value of $4,633,740.00. Following the completion of the sale, the director owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. The trade was a 15.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Emelie Tirre sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $85.74, for a total value of $857,400.00. Following the transaction, the insider owned 71,763 shares in the company, valued at approximately $6,152,959.62. The trade was a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 178,700 shares of company stock valued at $15,457,562. Corporate insiders own 8.10% of the company’s stock.
Institutional Trading of Monster Beverage
Several hedge funds and other institutional investors have recently bought and sold shares of MNST. Western Wealth Management LLC grew its holdings in shares of Monster Beverage by 6.9% in the first quarter. Western Wealth Management LLC now owns 3,034 shares of the company’s stock worth $220,000 after purchasing an additional 195 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Monster Beverage by 112.3% during the 1st quarter. Glenmede Trust Co. NA now owns 541,038 shares of the company’s stock valued at $39,204,000 after buying an additional 286,192 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Monster Beverage during the 1st quarter valued at $5,276,000. Groupe la Francaise purchased a new stake in Monster Beverage during the 1st quarter valued at $2,261,000. Finally, Bank of America Corp DE grew its holdings in Monster Beverage by 0.8% in the 1st quarter. Bank of America Corp DE now owns 12,532,462 shares of the company’s stock worth $908,102,000 after acquiring an additional 99,168 shares during the last quarter. Institutional investors 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.
Read More
- Five stocks we like better than Monster Beverage
- Top Consumer Discretionary Brands Add Buyback Capacity Amid Weakness
- Micron’s Sudden Plunge May Be an AI Buying Chance
- As Inflation Hits 3-Year High, These 2 ETFs Are Designed to Hedge Against Rising Costs
- BitMine’s Ethereum Bet Is Only Part of the Story
Receive News & Ratings for Monster Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage and related companies with MarketBeat.com's FREE daily email newsletter.
