State Street Corp has acquired more than two million shares of Monster Beverage Co. Several financial institutions including Stifel Financial Corp, Royal London Asset Management, and Benjamin Edwards Inc., have increased their stakes in the company. There have been concerns about the company’s profit decline and stock performance. Monster Beverage's Q3 earnings and sales did not meet expectations, however, its strategic brands surged by 14%. The company announced a new $500.0 million share repurchase program but also reported insiders selling a significant amount of stock. The company is being valued by analysts as undervalued by 21% to 27%. Monster Beverage's expansion strategy is being regarded positively, and the company had initiated a tender offer to purchase up to $3.0 billion of its outstanding common stock. Forward estimates for the company’s Q3 earnings are anticipated both by analysts and investors. Some suggest the energy drink manufacturer is losing its bounce, nonetheless, several firms have initiated coverage or maintain buy ratings on stock.
Monster Beverage Corporation MNST News Analytics from Wed, 28 Feb 2024 08:00:00 GMT to Sat, 07 Dec 2024 14:00:14 GMT -
Rating 0
- Innovation 3
- Information 6
- Rumor -2
