Monster Beverage (NASDAQ:MNST) Stock Scheduled to Split on Tuesday, August 11th

Shares of Monster Beverage Corporation (NASDAQ:MNST) are scheduled to split on Tuesday, August 11th. The 2-1 split was announced on Wednesday, July 8th. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 10th.

Monster Beverage Price Performance

MNST opened at $93.49 on Friday. Monster Beverage has a 12 month low of $58.09 and a 12 month high of $100.34. The stock has a market capitalization of $91.43 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 3.04 and a beta of 0.53. The business has a fifty day moving average price of $92.80 and a 200 day moving average price of $83.50.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a return on equity of 26.86% and a net margin of 23.11%.The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Monster Beverage’s revenue was up 22.6% on a year-over-year basis. On average, research analysts anticipate that Monster Beverage will post 2.3 earnings per share for the current year.

Monster Beverage declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 15th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 0.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

MNST has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Monster Beverage from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Bank of America decreased their price target on shares of Monster Beverage from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Royal Bank Of Canada boosted their price target on shares of Monster Beverage from $88.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Sanford C. Bernstein started coverage on shares of Monster Beverage in a research report on Friday, June 12th. They issued a “market perform” rating and a $95.00 price objective on the stock. Finally, Evercore increased their price objective on shares of Monster Beverage from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.65.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 7,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total value of $614,670.00. Following the transaction, the chief financial officer owned 62,553 shares in the company, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Guy Carling sold 19,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $90.90, for a total value of $1,727,100.00. Following the completion of the transaction, the chief executive officer owned 21,863 shares in the company, valued at approximately $1,987,346.70. The trade was a 46.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 178,700 shares of company stock valued at $15,457,562. 8.10% of the stock is owned by insiders.

Institutional Trading of Monster Beverage

Several institutional investors have recently modified their holdings of MNST. New York State Teachers Retirement System grew its stake in Monster Beverage by 3.4% during the 4th quarter. New York State Teachers Retirement System now owns 637,066 shares of the company’s stock worth $48,844,000 after buying an additional 21,169 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Monster Beverage by 6.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 197,899 shares of the company’s stock valued at $15,173,000 after buying an additional 12,050 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Monster Beverage by 7.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,605,873 shares of the company’s stock valued at $122,303,000 after buying an additional 116,510 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Monster Beverage by 7,360.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,191,407 shares of the company’s stock valued at $474,695,000 after buying an additional 6,108,420 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in shares of Monster Beverage by 27.0% in the fourth quarter. Ethic Inc. now owns 124,400 shares of the company’s stock valued at $9,538,000 after acquiring an additional 26,419 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.