Monster Beverage Co. (NASDAQ:MNST) posted its earnings results on Wednesday. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Monster Beverage had a net margin of 23.07% and a return on equity of 17.06%. The business had revenue of $753.80 million for the quarter, compared to the consensus estimate of $723.88 million. During the same period last year, the company earned $0.23 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year.
Monster Beverage (NASDAQ:MNST) traded up 0.22% during mid-day trading on Friday, hitting $45.85. 1,754,222 shares of the stock traded hands. The company has a 50-day moving average of $45.02 and a 200 day moving average of $75.95. The firm has a market capitalization of $25.98 billion, a P/E ratio of 38.53 and a beta of 0.77. Monster Beverage has a 1-year low of $40.30 and a 1-year high of $55.50.
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In other Monster Beverage news, Director Harold C. Taber, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $47.08, for a total value of $706,200.00. Following the completion of the sale, the director now owns 70,001 shares of the company’s stock, valued at $3,295,647.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark J. Hall sold 487,500 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $46.34, for a total value of $22,590,750.00. Following the completion of the sale, the insider now directly owns 1,031,808 shares of the company’s stock, valued at approximately $47,813,982.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 595,500 shares of company stock valued at $27,586,110. 9.20% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of MNST. FMR LLC raised its stake in shares of Monster Beverage by 173.7% in the fourth quarter. FMR LLC now owns 44,625,735 shares of the company’s stock valued at $1,978,704,000 after buying an additional 28,319,459 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Monster Beverage by 214.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 20,452,241 shares of the company’s stock valued at $906,852,000 after buying an additional 13,947,616 shares in the last quarter. Sands Capital Management LLC purchased a new stake in shares of Monster Beverage during the fourth quarter valued at about $569,690,000. State Street Corp raised its stake in shares of Monster Beverage by 200.8% in the fourth quarter. State Street Corp now owns 16,704,037 shares of the company’s stock valued at $740,660,000 after buying an additional 11,150,044 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Monster Beverage by 173.3% in the fourth quarter. Franklin Resources Inc. now owns 6,758,524 shares of the company’s stock valued at $299,713,000 after buying an additional 4,285,252 shares in the last quarter. 28.01% of the stock is owned by institutional investors and hedge funds.
MNST has been the topic of several recent research reports. Vetr downgraded shares of Monster Beverage from a “hold” rating to a “sell” rating and set a $43.62 target price on the stock. in a research report on Tuesday, December 13th. Jefferies Group LLC upgraded shares of Monster Beverage from a “hold” rating to a “buy” rating and lifted their target price for the stock from $43.54 to $58.00 in a research report on Wednesday, December 21st. Zacks Investment Research upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating in a research report on Wednesday, January 4th. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $39.00 target price on shares of Monster Beverage in a research report on Monday, January 9th. Finally, Goldman Sachs Group Inc reiterated a “conviction-buy” rating and set a $52.00 target price (down from $54.00) on shares of Monster Beverage in a research report on Saturday, January 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.58.
About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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