Insider Selling: Monster Beverage Co. (MNST) Chairman Sells 62,386 Shares of Stock
Monster Beverage Co. (NASDAQ:MNST) Chairman Rodney C. Sacks sold 62,386 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $64.53, for a total transaction of $4,025,768.58. Following the sale, the chairman now owns 949,806 shares of the company’s stock, valued at $61,290,981.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Monster Beverage Co. (NASDAQ:MNST) opened at $63.96 on Friday. Monster Beverage Co. has a 12 month low of $41.02 and a 12 month high of $66.16. The company has a market cap of $35,860.00, a P/E ratio of 46.69, a PEG ratio of 1.98 and a beta of 0.94.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The business had revenue of $909.50 million during the quarter, compared to analyst estimates of $903.82 million. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. analysts anticipate that Monster Beverage Co. will post 1.48 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on MNST shares. Macquarie started coverage on shares of Monster Beverage in a research report on Thursday, September 14th. They set an “outperform” rating and a $65.00 price objective for the company. Royal Bank of Canada restated a “buy” rating and set a $61.00 price objective on shares of Monster Beverage in a research report on Friday, September 22nd. Stifel Nicolaus restated a “buy” rating and set a $57.00 price objective on shares of Monster Beverage in a research report on Saturday, September 23rd. Jefferies Group restated a “buy” rating and set a $65.00 price objective on shares of Monster Beverage in a research report on Friday, October 13th. Finally, Citigroup set a $60.00 price objective on shares of Monster Beverage and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Monster Beverage currently has a consensus rating of “Buy” and a consensus target price of $60.99.
Several hedge funds and other institutional investors have recently bought and sold shares of MNST. Commonwealth Bank of Australia boosted its stake in shares of Monster Beverage by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after purchasing an additional 232 shares during the period. Liberty Capital Management Inc. boosted its stake in shares of Monster Beverage by 2,028.0% in the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock valued at $120,000 after purchasing an additional 2,028 shares during the period. Sun Life Financial INC raised its holdings in Monster Beverage by 29,250.0% in the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock valued at $146,000 after acquiring an additional 2,925 shares in the last quarter. Bessemer Group Inc. raised its holdings in Monster Beverage by 397.6% in the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Monster Beverage in the third quarter valued at approximately $169,000. 65.62% of the stock is owned by institutional investors and hedge funds.
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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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