Bank of America just raised its EUR/USD forecast
Monster Beverage Corp (NASDAQ:MNST) Chief Financial Officer Kelly Thomas J recently sold 10,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $55.27, resulting in a total transaction value of approximately $552,700. Following the sale, Kelly’s direct ownership in Monster Beverage stands at 72,273 shares. The transaction comes as Monster, currently valued at $55.2 billion, maintains strong financial health with a "GREAT" rating according to InvestingPro analysis.
In addition to the sale, there were several acquisitions and exercises of stock options. Kelly acquired 10,800 shares of common stock without any monetary exchange, as part of performance share units under Monster Beverage’s 2020 Omnibus Incentive Plan. These shares were added to Kelly’s holdings, increasing the total to 89,858 shares at one point during the reporting period.
The transactions also included the exercise of stock options and restricted stock units, which were settled in shares of common stock, further reflecting Kelly’s ongoing involvement in the company’s equity plans.
In other recent news, Monster Beverage Corporation reported fourth-quarter revenue of $1.81 billion, surpassing the consensus estimate of $1.8 billion. This marks a 4.7% year-over-year increase in net sales, or 7.8% on a foreign currency adjusted basis. However, adjusted earnings per share fell short of expectations at $0.38, compared to the projected $0.40. Gross profit margin improved to 55.5% due to reduced input costs but was partially offset by geographical sales mix. In other developments, Rodney C. Sacks will step down as Co-Chief Executive Officer in June 2025, with Hilton H. Schlosberg becoming the sole CEO. Piper Sandler maintained a Neutral rating on Monster Beverage with a $51 price target, citing manageable costs and increased retail momentum. Meanwhile, Stifel reiterated a Buy rating with a $59 target, noting strong international sales growth and a gross margin that exceeded expectations. Additionally, Monster Beverage advised shareholders against an unsolicited mini-tender offer from TRC Capital Investment Corporation, as the offer price is below the current market value.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.