Monster Beverage Corp (NASDAQ:MNST) EVP Sells $1,982,310.00 in Stock

Monster Beverage Corp (NASDAQ:MNST) EVP Thomas J. Kelly sold 33,000 shares of Monster Beverage stock in a transaction that occurred on 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 completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Monster Beverage stock traded down $0.01 during midday trading on Monday, hitting $59.81. The company had a trading volume of 2,176,445 shares, compared to its average volume of 3,376,308. The business’s 50 day simple moving average is $57.54 and its two-hundred day simple moving average is $60.21. The stock has a market cap of $32.16 billion, a PE ratio of 33.41, a P/E/G ratio of 2.06 and a beta of 1.16. Monster Beverage Corp has a 1-year low of $47.74 and a 1-year high of $66.38.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. Monster Beverage’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. Equities analysts predict that Monster Beverage Corp will post 2.04 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Monster Beverage by 0.6% in the third quarter. State Street Corp now owns 17,755,020 shares of the company’s stock worth $1,030,856,000 after acquiring an additional 113,887 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Monster Beverage by 7,920.5% during the second quarter. Nuveen Asset Management LLC now owns 9,099,432 shares of the company’s stock worth $580,817,000 after buying an additional 8,985,980 shares in the last quarter. Viking Global Investors LP acquired a new stake in Monster Beverage during the second quarter worth $565,020,000. Renaissance Technologies LLC boosted its stake in Monster Beverage by 19.6% during the second quarter. Renaissance Technologies LLC now owns 8,624,004 shares of the company’s stock worth $550,470,000 after buying an additional 1,413,700 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Monster Beverage by 2.9% during the second quarter. Invesco Ltd. now owns 6,799,956 shares of the company’s stock worth $434,043,000 after buying an additional 192,832 shares in the last quarter. Institutional investors and hedge funds own 65.94% of the company’s stock.

A number of research firms have recently commented on MNST. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target (down previously from $67.00) on shares of Monster Beverage in a research report on Thursday, August 8th. Zacks Investment Research raised shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 price target on the stock in a research report on Tuesday, October 1st. BidaskClub lowered shares of Monster Beverage from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. UBS Group reissued a “sell” rating and issued a $52.00 price target (down previously from $53.00) on shares of Monster Beverage in a research report on Thursday, August 8th. Finally, Wells Fargo & Co dropped their price target on shares of Monster Beverage from $59.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Monster Beverage has an average rating of “Hold” and an average price target 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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