Monster Beverage (NASDAQ:MNST) Stock Price Down 6.2% After Earnings Miss

Monster Beverage Co. (NASDAQ:MNSTGet Rating) shares were down 6.2% during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $90.05 and last traded at $90.38. Approximately 78,691 shares changed hands during trading, a decline of 97% from the average daily volume of 2,677,116 shares. The stock had previously closed at $96.36.

The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.19). Monster Beverage had a net margin of 23.32% and a return on equity of 21.21%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the firm earned $0.75 EPS. Monster Beverage’s revenue for the quarter was up 13.2% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MNST shares. BMO Capital Markets lifted their target price on Monster Beverage from $90.00 to $95.00 in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $109.00 to $107.00 in a research note on Friday. UBS Group boosted their price target on Monster Beverage from $94.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday. Sanford C. Bernstein upgraded Monster Beverage from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $97.00 to $110.00 in a research note on Wednesday, May 18th. Finally, Morgan Stanley boosted their price target on Monster Beverage from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Monday, June 6th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $101.40.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, insider Emelie Tirre sold 40,729 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $88.06, for a total value of $3,586,595.74. Following the completion of the transaction, the insider now directly owns 19,526 shares of the company’s stock, valued at $1,719,459.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Hilton H. Schlosberg sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $91.00, for a total transaction of $4,550,000.00. Following the completion of the transaction, the chief executive officer now directly owns 310,244 shares of the company’s stock, valued at approximately $28,232,204. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Emelie Tirre sold 40,729 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $88.06, for a total value of $3,586,595.74. Following the transaction, the insider now directly owns 19,526 shares of the company’s stock, valued at $1,719,459.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,028 shares of company stock valued at $10,522,704. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Monster Beverage by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 30,005,150 shares of the company’s stock valued at $2,397,411,000 after purchasing an additional 504,239 shares during the last quarter. BlackRock Inc. raised its stake in Monster Beverage by 0.6% in the 1st quarter. BlackRock Inc. now owns 24,385,742 shares of the company’s stock valued at $1,948,417,000 after purchasing an additional 149,725 shares during the last quarter. State Street Corp raised its stake in Monster Beverage by 2.4% in the 1st quarter. State Street Corp now owns 17,029,815 shares of the company’s stock valued at $1,360,682,000 after purchasing an additional 391,417 shares during the last quarter. Clearbridge Investments LLC raised its stake in Monster Beverage by 10.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,071,948 shares of the company’s stock valued at $804,749,000 after purchasing an additional 912,942 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Monster Beverage by 8.2% in the 1st quarter. Renaissance Technologies LLC now owns 7,028,060 shares of the company’s stock valued at $561,542,000 after purchasing an additional 531,500 shares during the last quarter. 63.44% of the stock is owned by institutional investors and hedge funds.

Monster Beverage Stock Performance

The company has a 50 day moving average of $93.33 and a 200 day moving average of $86.75. The stock has a market capitalization of $48.40 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.41 and a beta of 0.92.

Monster Beverage Company Profile

(Get Rating)

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.

Further Reading

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