Monster Beverage (NASDAQ:MNST) Insider Guy Carling Sells 38,438 Shares

by · The Markets Daily

Monster Beverage Corporation (NASDAQ:MNST – Get Free Report) insider Guy Carling sold 38,438 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total value of $2,741,782.54. Following the transaction, the insider owned 21,993 shares in the company, valued at $1,568,760.69. This trade represents a 63.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Monster Beverage Price Performance

Shares of MNST stock traded up $0.53 on Monday, hitting $71.84. The stock had a trading volume of 4,815,596 shares, compared to its average volume of 5,957,765. The company’s 50 day moving average price is $67.39 and its 200-day moving average price is $63.92. Monster Beverage Corporation has a 1 year low of $45.70 and a 1 year high of $73.03. The firm has a market capitalization of $70.19 billion, a P/E ratio of 44.62, a P/E/G ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.Monster Beverage’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, equities analysts forecast that Monster Beverage Corporation will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MNST shares. Zacks Research upgraded shares of Monster Beverage from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Evercore ISI raised their price target on shares of Monster Beverage from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a $79.00 price target on shares of Monster Beverage in a research note on Tuesday, November 4th. Stifel Nicolaus increased their price objective on Monster Beverage from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Monster Beverage in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.62.

View Our Latest Stock Report on MNST

Institutional Investors Weigh In On Monster Beverage

Several institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Monster Beverage during the 2nd quarter worth about $544,584,000. Nuveen LLC purchased a new stake in Monster Beverage during the first quarter worth approximately $497,157,000. Schroder Investment Management Group lifted its stake in Monster Beverage by 4,877.8% during the second quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock worth $456,262,000 after purchasing an additional 7,137,552 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Monster Beverage by 467.0% in the second quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after purchasing an additional 5,641,160 shares in the last quarter. Finally, State Street Corp increased its stake in Monster Beverage by 8.0% in the third quarter. State Street Corp now owns 37,719,091 shares of the company’s stock valued at $2,538,872,000 after purchasing an additional 2,789,273 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

About Monster Beverage

(Get Free Report)

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.

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