Insider Selling: Monster Beverage Corp. CEO Unloads 200,000 Shares of Stock (MNST)
Monster Beverage Corp. (NASDAQ:MNST) CEO Rodney Sacks sold 200,000 shares of Monster Beverage Corp. stock on the open market in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $67.39, for a total value of $13,478,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,192,558 shares in the company, valued at approximately $80,366,484. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
MNST has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Monster Beverage Corp. from $70.00 to $79.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital upgraded shares of Monster Beverage Corp. from an “outperform” rating to a “top pick” rating in a research note to investors on Monday, December 16th. They now have a $77.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Monster Beverage Corp. from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, December 2nd. They now have a $74.00 price target on the stock, up previously from $70.00. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Monster Beverage Corp. has an average rating of “Buy” and an average price target of $67.76.
Shares of Monster Beverage Corp. (NASDAQ:MNST) traded up 1.11% on Friday, hitting $67.52. The stock had a trading volume of 1,618,156 shares. Monster Beverage Corp. has a 52-week low of $45.38 and a 52-week high of $68.33. The stock has a 50-day moving average of $62.49 and a 200-day moving average of $59.12. The company has a market cap of $11.321 billion and a price-to-earnings ratio of 35.24.
Monster Beverage Corp. (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.04. The company had revenue of $590.40 million for the quarter, compared to the consensus estimate of $602.34 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis.
Monster Beverage Corporation, formerly Hansen Natural Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.