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CORONA, CA – Kelly Thomas J, the Chief Financial Officer of Monster Beverage Corp (NASDAQ:MNST), recently executed a series of stock transactions involving the company’s shares. According to a filing with the Securities and Exchange Commission, Thomas sold 10,000 shares of Monster Beverage at an average price of $55.27, totaling approximately $552,700.
In addition to the sale, Thomas acquired a significant number of shares through various transactions. These included the acquisition of 10,800 shares at no cost, following the achievement of performance criteria set by the company’s 2020 Omnibus Incentive Plan. Furthermore, Thomas exercised options to acquire additional shares, reflecting the vesting of previously granted stock units.
Following these transactions, Thomas holds a total of 72,273 shares of Monster Beverage Corp in direct ownership.
The transactions were part of a broader set of activities reported in the Form 4 filing, which details changes in beneficial ownership of the company’s securities by its officers and directors.
In other recent news, Monster Beverage Corporation reported fourth-quarter revenue of $1.81 billion, surpassing analyst expectations of $1.8 billion. Despite this revenue beat, the company posted adjusted earnings per share of $0.38, falling short of the projected $0.40, which remained flat compared to the same period last year. The company also improved its gross profit margin to 55.5%, up from 54.5% in the previous year, thanks to reduced input costs. Meanwhile, Piper Sandler maintained a Neutral rating on Monster Beverage with a price target of $51, noting growth in retail momentum in the U.S. Additionally, Stifel reiterated a Buy rating with a price target of $59, highlighting strong international sales growth and better-than-expected gross margins.
In other developments, Monster Beverage alerted shareholders about an unsolicited mini-tender offer from TRC Capital Investment Corporation, advising them to reject the offer as it is below the market price. The company emphasized caution, urging shareholders to consult financial advisors. On the executive front, Rodney C. Sacks will step down as Co-CEO in June 2025, with Hilton H. Schlosberg set to become the sole CEO. Sacks will remain as Chairman of the Board and continue to influence the company’s strategic direction. These updates reflect the ongoing developments and strategic shifts within Monster Beverage.
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