Monster Beverage Corp (NASDAQ:MNST) was the target of a large decline in short interest in November. As of November 29th, there was short interest totalling 11,510,000 shares, a decline of 11.5% from the November 14th total of 13,000,000 shares. Based on an average daily trading volume, of 2,830,000 shares, the short-interest ratio is presently 4.1 days. Currently, 3.0% of the company’s stock are sold short.
In related news, insider Emelie Tirre sold 10,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $58.58, for a total value of $615,090.00. Following the transaction, the insider now directly owns 63,101 shares in the company, valued at approximately $3,696,456.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas J. Kelly sold 33,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $60.07, for a total value of $1,982,310.00. Following the completion of the transaction, the executive vice president now owns 58,249 shares in the company, valued at $3,499,017.43. The disclosure for this sale can be found here. Insiders own 10.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MNST. Maverick Capital Ltd. boosted its position in Monster Beverage by 2,731.7% in the third quarter. Maverick Capital Ltd. now owns 3,060,771 shares of the company’s stock worth $177,708,000 after purchasing an additional 2,952,681 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Monster Beverage by 16.3% during the 3rd quarter. Squarepoint Ops LLC now owns 713,327 shares of the company’s stock worth $41,416,000 after purchasing an additional 99,818 shares during the period. Bank of Hawaii boosted its holdings in shares of Monster Beverage by 50.3% in the 3rd quarter. Bank of Hawaii now owns 15,875 shares of the company’s stock worth $922,000 after buying an additional 5,310 shares during the last quarter. National Pension Service boosted its holdings in shares of Monster Beverage by 5.0% in the 3rd quarter. National Pension Service now owns 550,858 shares of the company’s stock worth $31,983,000 after buying an additional 26,286 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Monster Beverage by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 231,235 shares of the company’s stock valued at $13,426,000 after buying an additional 2,110 shares during the period. 65.92% of the stock is owned by institutional investors.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Monster Beverage had a net margin of 26.58% and a return on equity of 28.23%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts predict that Monster Beverage will post 2.04 EPS for the current year.
A number of research analysts have weighed in on MNST shares. Zacks Investment Research raised shares of Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 1st. Guggenheim downgraded shares of Monster Beverage from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $74.00 to $60.00 in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of Monster Beverage from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group upped their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 8th. They noted that the move was a valuation call. Finally, Deutsche Bank raised their price target on shares of Monster Beverage from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Monster Beverage presently has a consensus rating of “Hold” and an average price target of $65.44.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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