Monster Beverage Corp Insider Sells $9,518,758 in Stock (MNST)
Monster Beverage Corp (NASDAQ:MNST) Insider Mark J. Hall sold 105,588 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $90.15, for a total value of $9,518,758.20. Following the completion of the sale, the insider now directly owns 268,348 shares of the company’s stock, valued at approximately $24,191,572. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MNST shares. Analysts at Goldman Sachs raised their price target on shares of Monster Beverage Corp from $87.00 to $125.00 in a research note on Tuesday, August 19th. They now have a “buy” rating on the stock. Separately, analysts at SunTrust downgraded shares of Monster Beverage Corp from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $90.00 price target on the stock, up previously from $80.00. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday, August 18th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Monster Beverage Corp currently has a consensus rating of “Buy” and an average price target of $89.58.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded up 0.65% during mid-day trading on Wednesday, hitting $90.35. 1,249,269 shares of the company’s stock traded hands. Monster Beverage Corp has a 1-year low of $51.15 and a 1-year high of $94.93. The stock has a 50-day moving average of $74.84 and a 200-day moving average of $70.83. The company has a market cap of $15.104 billion and a P/E ratio of 38.53.
Monster Beverage Corp (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.06. The company had revenue of $687.20 million for the quarter, compared to the consensus estimate of $694.22 million. During the same quarter last year, the company posted $0.62 earnings per share. Monster Beverage Corp’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that Monster Beverage Corp will post $2.58 earnings per share for the current fiscal year.
Monster Beverage Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage, such as non-carbonated ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks, and single-serve still water (NASDAQ:MNST) with beverages, including sodas that are considered natural, sparkling juices and flavored sparkling beverages.
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