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Monster Beverage Inc (NASDAQ:MNST) trades down 6.2% on weak earnings

Monster Beverage Co. (NASDAQ: MNST – Get Rating) stock price fell 6.2% in Friday’s session after the company reported weaker-than-expected quarterly results. The company traded as low as $90.05 and last traded at $90.38. Approximately 78,691 shares were traded during trading, down 97% from the average daily volume of 2,677,116 shares. The stock previously closed at $96.36.

The company reported earnings per share of $0.51 for the quarter, missing the consensus estimate of $0.70 per ($0.19). Monster Beverage had a net margin of 23.32% and a return on equity of 21.21%. The company posted revenue of $1.66 billion in the quarter, compared to $1.61 billion expected by analysts. In the same quarter last year, the company posted earnings per share of $0.75. The company’s revenue for the quarter increased by 13.2% compared to the same quarter last year.

A Wall Street analyst gives his opinion

A number of research companies have published reports on MNST. Roth Capital began covering Monster Beverage in a research report on Tuesday, July 5. They set a “neutral” rating and a price target of $100.00 for the company. UBS Group raised its price target on Monster Beverage from $94.00 to $99.00 and gave the company a “neutral” rating in a report on Friday. Sanford C. Bernstein upgraded Monster Beverage from a ‘market performer’ rating to an ‘outperformer’ rating and raised its price target for the stock from $97.00 to $110.00 in a report research of Wednesday, May 18. Deutsche Bank Aktiengesellschaft cut its price target on Monster Beverage from $109.00 to $107.00 in a report on Friday. Finally, Wells Fargo & Company raised its price target on Monster Beverage from $105.00 to $110.00 and gave the company an “overweight” rating in a Thursday, July 28 research note. Eight research analysts gave the stock a hold rating and eight gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.64.

Insider activity

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In related news, insider Emelie Tirre sold 40,729 shares of the company in a trade on Friday, May 13. The shares were 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, valued at approximately $1,719,459.56. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other Monster Beverage news, insider Emelie Tirre sold 40,729 shares of the company in a trade dated Friday, May 13. The shares were sold at an average price of $88.06, for a total transaction of $3,586,595.74. Following the sale, the insider now directly owns 19,526 shares of the company, valued at approximately $1,719,459.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Additionally, insider Guy Carling sold 26,299 shares of the company in a trade dated Tuesday, June 7. The shares were sold at an average price of $90.73, for a total transaction of $2,386,108.27. Following the completion of the sale, the insider now directly owns 25,901 shares of the company, valued at $2,349,997.73. The disclosure of this sale can be found here. Insiders sold 117,028 shares of the company worth $10,522,704 during the last quarter. Insiders of the company hold 10.50% of the shares of the company.

Institutional entries and exits

Institutional investors and hedge funds have recently changed their positions in the company. Industrial Alliance Investment Management Inc. acquired a new position in shares of Monster Beverage during the fourth quarter worth $27,000. Ancora Advisors LLC acquired a new stake in Monster Beverage in the first quarter worth $27,000. Janiczek Wealth Management LLC increased its holdings in Monster Beverage by 311.4% in the second quarter. Janiczek Wealth Management LLC now owns 288 shares of the company worth $29,000 after purchasing an additional 218 shares during the period. Tcwp LLC acquired a new stake in Monster Beverage in the first quarter worth $31,000. Finally, Quent Capital LLC increased its stake in Monster Beverage by 45.3% in the first quarter. Quent Capital LLC now owns 430 shares of the company worth $34,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds hold 63.44% of the company’s shares.

Monster Beverage Price Performance

The stock has a market capitalization of $47.46 billion, a price/earnings ratio of 35.21, a PEG ratio of 2.41 and a beta of 0.92. The company’s 50-day moving average price is $93.30 and its 200-day moving average price is $86.71.

Monster Beverage Company Profile

(Get an evaluation)

Monster Beverage Corporation, through its subsidiaries, is engaged in the development, marketing, sale and distribution of energy drinks and concentrates in the United States and abroad. The Company operates through three segments: Monster Energy Drinks, Strategic Brands and Other. It offers carbonated energy drinks, ready-to-drink non-carbonated iced teas, lemonades, juice cocktails, single-serve juices and fruit drinks, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve drinks. still waters and sodas considered natural, sparkling juices and flavored sparkling drinks.

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