Monster Beverage Co. (NASDAQ:MNST – Get Rating) insider Emelie Tirre sold 37,839 shares of Monster Beverage stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $103.03, for a total value of $3,898,552.17. Following the completion of the transaction, the insider now owns 23,201 shares of the company’s stock, valued at approximately $2,390,399.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Monster Beverage Stock Down 1.8 %
Shares of NASDAQ:MNST opened at $100.17 on Friday. The company has a market capitalization of $52.33 billion, a price-to-earnings ratio of 44.92, a price-to-earnings-growth ratio of 1.51 and a beta of 0.87. Monster Beverage Co. has a 52 week low of $73.09 and a 52 week high of $105.45. The firm has a 50 day moving average of $102.28 and a 200 day moving average of $97.27.
Monster Beverage’s stock is scheduled to split before the market opens on Tuesday, March 28th. The 2-1 split was announced on Tuesday, February 28th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, March 27th.
Hedge Funds Weigh In On Monster Beverage
A number of large investors have recently bought and sold shares of MNST. Price T Rowe Associates Inc. MD raised its stake in Monster Beverage by 293.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,100,259 shares of the company’s stock worth $936,294,000 after buying an additional 7,530,547 shares in the last quarter. Norges Bank purchased a new position in Monster Beverage in the fourth quarter worth $363,374,000. Alliancebernstein L.P. grew its holdings in Monster Beverage by 17.8% in the third quarter. Alliancebernstein L.P. now owns 20,190,237 shares of the company’s stock worth $1,755,743,000 after purchasing an additional 3,054,345 shares during the last quarter. First Trust Advisors LP grew its holdings in Monster Beverage by 521.1% in the third quarter. First Trust Advisors LP now owns 2,169,828 shares of the company’s stock worth $188,688,000 after purchasing an additional 1,820,483 shares during the last quarter. Finally, FMR LLC grew its holdings in Monster Beverage by 6.4% in the second quarter. FMR LLC now owns 27,494,943 shares of the company’s stock worth $2,548,782,000 after purchasing an additional 1,654,974 shares during the last quarter. Institutional investors own 75.11% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on MNST shares. JPMorgan Chase & Co. dropped their price target on Monster Beverage from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, March 1st. Truist Financial raised their price objective on shares of Monster Beverage from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. Citigroup decreased their price objective on shares of Monster Beverage from $121.00 to $118.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. Morgan Stanley decreased their price objective on shares of Monster Beverage from $117.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, March 1st. Finally, Evercore ISI raised their price objective on shares of Monster Beverage from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.28.
About Monster Beverage
Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full-service beverage distributors.
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