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

Monster Beverage Corporation (NASDAQ:MNST) insider Guy Carling sold 38,438 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $71.33, for a total transaction of $2,741,782.54. Following the sale, the insider directly owned 21,993 shares in the company, valued at approximately $1,568,760.69. This represents a 63.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Monster Beverage Trading Up 0.7%

NASDAQ MNST opened at $71.84 on Tuesday. Monster Beverage Corporation has a 12-month low of $45.70 and a 12-month high of $73.03. The company has a fifty day simple moving average of $67.57 and a two-hundred day simple moving average of $64.01. The stock has a market cap 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) last released its earnings results on Thursday, November 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, sell-side analysts forecast that Monster Beverage Corporation will post 1.62 earnings per share for the current year.

Institutional Investors Weigh In On Monster Beverage

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group raised their price objective on Monster Beverage from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. The Goldman Sachs Group increased their price target on shares of Monster Beverage from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Piper Sandler raised their price target on shares of Monster Beverage from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Monster Beverage in a research note on Wednesday, October 8th. Finally, Roth Capital reiterated a “neutral” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.62.

Monster Beverage Company Profile

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.