Monster Beverage (NASDAQ:MNST) Stock Price Down 5.5%

Monster Beverage Corp (NASDAQ:MNST)’s stock price fell 5.5% during mid-day trading on Monday . The company traded as low as $58.84 and last traded at $58.96, 5,385,208 shares changed hands during mid-day trading. An increase of 49% from the average session volume of 3,603,941 shares. The stock had previously closed at $62.39.

A number of research firms have issued reports on MNST. ValuEngine downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Wells Fargo & Co upped their price objective on shares of Monster Beverage from $56.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, May 29th. BidaskClub raised shares of Monster Beverage from a “buy” rating to a “strong-buy” rating in a research note on Thursday. UBS Group set a $53.00 price objective on shares of Monster Beverage and gave the company a “sell” rating in a research note on Friday, May 3rd. Finally, Macquarie set a $63.00 price objective on shares of Monster Beverage and gave the company a “hold” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Monster Beverage presently has a consensus rating of “Hold” and an average target price of $64.17.

The stock has a market capitalization of $33.91 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.10 and a beta of 1.30. The company’s fifty day moving average price is $64.20.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Monster Beverage had a net margin of 26.61% and a return on equity of 28.35%. The firm had revenue of $946.00 million during the quarter, compared to analysts’ expectations of $919.49 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts expect that Monster Beverage Corp will post 2.09 EPS for the current fiscal year.

In related news, insider Guy Carling sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $65.82, for a total value of $1,579,680.00. Following the completion of the sale, the insider now owns 33,535 shares in the company, valued at $2,207,273.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark J. Hall sold 394,341 shares of Monster Beverage stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $61.58, for a total transaction of $24,283,518.78. The disclosure for this sale can be found here. Insiders sold 443,103 shares of company stock valued at $27,415,776 in the last quarter. Company insiders own 10.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Westside Investment Management Inc. acquired a new position in Monster Beverage during the second quarter worth about $26,000. Coastal Capital Group Inc. acquired a new position in Monster Beverage in the 2nd quarter valued at $34,000. West Oak Capital LLC acquired a new position in Monster Beverage in the 2nd quarter valued at $38,000. Old North State Trust LLC acquired a new position in Monster Beverage in the 1st quarter valued at $48,000. Finally, SevenBridge Financial Group LLC acquired a new position in Monster Beverage in the 2nd quarter valued at $50,000. Institutional investors own 66.28% of the company’s stock.

About Monster Beverage (NASDAQ:MNST)

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.

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