Monster Beverage (NASDAQ:MNST) Posts Earnings Results, Misses Expectations By $0.19 EPS

Monster Beverage (NASDAQ:MNSTGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.19), RTT News reports. Monster Beverage had a net margin of 23.32% and a return on equity of 21.21%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year.

Monster Beverage Stock Performance

Monster Beverage stock traded up $0.31 during mid-day trading on Thursday, reaching $96.36. The stock had a trading volume of 3,040,331 shares, compared to its average volume of 2,956,020. Monster Beverage has a fifty-two week low of $71.78 and a fifty-two week high of $99.89. The stock’s 50-day simple moving average is $93.30 and its 200-day simple moving average is $86.71. The firm has a market capitalization of $51.04 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Guy Carling sold 26,299 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $90.73, for a total value of $2,386,108.27. Following the completion of the sale, the insider now owns 25,901 shares of the company’s stock, valued at $2,349,997.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Guy Carling sold 26,299 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $90.73, for a total transaction of $2,386,108.27. Following the transaction, the insider now owns 25,901 shares of the company’s stock, valued at $2,349,997.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hilton H. Schlosberg sold 50,000 shares of Monster Beverage stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $91.00, for a total value of $4,550,000.00. Following the transaction, the chief executive officer now directly owns 310,244 shares in the company, valued at approximately $28,232,204. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,028 shares of company stock valued at $10,522,704. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers boosted its position in shares of Monster Beverage by 1.6% during the first quarter. Cetera Investment Advisers now owns 10,286 shares of the company’s stock valued at $822,000 after buying an additional 161 shares during the last quarter. Blair William & Co. IL boosted its position in Monster Beverage by 7.5% in the first quarter. Blair William & Co. IL now owns 2,537 shares of the company’s stock worth $203,000 after purchasing an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Monster Beverage by 3.9% in the first quarter. Brown Brothers Harriman & Co. now owns 5,820 shares of the company’s stock worth $465,000 after purchasing an additional 216 shares during the last quarter. Cibc World Market Inc. boosted its position in Monster Beverage by 3.3% in the first quarter. Cibc World Market Inc. now owns 6,759 shares of the company’s stock worth $540,000 after purchasing an additional 219 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in Monster Beverage by 8.3% in the first quarter. Advisory Services Network LLC now owns 3,657 shares of the company’s stock worth $294,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 63.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Monster Beverage from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. UBS Group lowered their price objective on Monster Beverage from $95.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. Roth Capital assumed coverage on Monster Beverage in a research report on Tuesday, July 5th. They set a “neutral” rating and a $100.00 price objective for the company. BMO Capital Markets raised their price objective on Monster Beverage from $90.00 to $95.00 in a research report on Wednesday, June 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $105.00 price objective on shares of Monster Beverage in a research report on Friday, April 29th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Monster Beverage Company Profile

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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, and Other. It offers carbonated energy drinks, 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 waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

See Also

Earnings History for Monster Beverage (NASDAQ:MNST)

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