Insider Selling: Monster Beverage Co. (NASDAQ:MNST) Insider Sells 37,839 Shares of Stock

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.

Monster Beverage (NASDAQ:MNST – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.60 billion. Monster Beverage had a return on equity of 17.32% and a net margin of 18.88%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. On average, sell-side analysts expect that Monster Beverage Co. will post 2.99 EPS for the current year.

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

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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.