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A Review of Monster Beverage Corporation (NASDAQ: MNST)’s Performance and Growth Prospects

In the last trading session, 9.72 million Monster Beverage Corporation (NASDAQ:MNST) shares changed hands as the company’s beta touched 0.83. With the company’s per share price at $56.14 changed hands at -$0.73 or -1.28% during last session, the market valuation stood at $59.57B. MNST’s last price was a discount, traded about -7.71% off its 52-week high of $60.47. The share price had its 52-week low at $42.81, which suggests the last value was 23.74% up since then. When we look at Monster Beverage Corporation’s average trading volume, we note the 10-day average is 4.4 million shares, with the 3-month average coming to 4.32 million.

Monster Beverage Corporation (NASDAQ:MNST) trade information

Instantly MNST was in red as seen at the end of in last trading. With action -0.41%, the performance over the past five days has been red. The drop to weekly highs of 57.04 on Friday, 09/15/23 subtracted -1.28% to the stock’s daily price. The company’s shares are showing year-to-date upside of 10.59%, with the 5-day performance at -0.41% in the red. However, in the 30-day time frame, Monster Beverage Corporation (NASDAQ:MNST) is -3.70% down. Looking at the short shares, we see there were 11.49 million shares sold at short interest cover period of 2.74 days.

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The consensus price target for the stock as assigned by Wall Street analysts is $63.41, meaning bulls need an upside of 11.47% from its current market value. According to analyst projections, MNST’s forecast low is $57.00 with $72.00 as the target high. To hit the forecast high, the stock’s price needs a -28.25% plunge from its current level, while the stock would need to soar -1.53% for it to hit the projected low.

Monster Beverage Corporation (MNST) estimates and forecasts

Data shows that the Monster Beverage Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.59% over the past 6 months, a 37.50% in annual growth rate that is considerably higher than the industry average of 30.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Monster Beverage Corporation will rise 30.00%, while the growth in revenue is estimated to hit 32.10% for the next quarter. Year-over-year growth is forecast to reach 13.50% up from the last financial year.

Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $1.86 billion. 14 analysts are of the opinion that Monster Beverage Corporation’s revenue for the quarter ending Dec 2023 will be $1.75 billion. The company’s revenue for the corresponding quarters a year ago was $1.65 billion and $1.51 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.40%. The estimates for the next quarter sales put growth at 15.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.40%. The 2023 estimates are for Monster Beverage Corporation earnings to decrease by -56.60%, but the outlook for the next 5-year period is at 23.47% per year.

MNST Dividends

Monster Beverage Corporation is expected to release its next quarterly earnings report between November 01 and November 06.

Monster Beverage Corporation (NASDAQ:MNST)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 28.07% of Monster Beverage Corporation shares while 68.11% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.69%. There are 68.11% institutions holding the Monster Beverage Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 6.06% of the shares, roughly 63.49 million MNST shares worth $3.56 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.09% or 53.32 million shares worth $2.99 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 22.88 million shares estimated at $1.28 billion under it, the former controlled 2.18% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 1.74% of the shares, roughly 18.19 million shares worth around $1.02 billion.

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