MONSTER BEVERAGE CORPORATION

(MNST)
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Delayed Nasdaq  -  04:00 2022-08-17 pm EDT
91.51 USD   -0.83%
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Jack Daniels and Coca-Cola mix it up with official cocktail can

06/13/2022 | 12:45pm EDT
FILE PHOTO: A Coca-Cola logo is pictured during an event in Paris

(Reuters) - Jack and Coke fans will soon be able to sip the cocktail at home after Coca-Cola and Jack Daniels whiskey maker Brown-Forman said they plan to offer it in a can.

The 'official' mix represents the latest push by big soft drink makers into alcohol, as boundaries blur and more people turn to pre-mixed, ready-to-drink cocktails.

Jack Daniels, which already sells a canned cola cocktail in many markets, and Coca-Cola said in a statement that they will begin by selling their new drink in Mexico in late 2022.

PepsiCo Inc started selling alcoholic versions of Mountain Dew earlier this year, while energy drinks maker Monster Beverage Corp announced a deal to buy hard seltzer producer CANarchy Craft Brewery Collective in January.

Ready-to-drink products are expected to make up 8% of the broader alcohol market by 2025, up from 4% in 2020, research https://www.theiwsr.com/wp-content/uploads/IWSR-Forecasts-RTD-Volume-Share-to-Double-in-Next-Five-Years.pdf from industry tracker IWSR estimates, with the ready-to-drink category expected to grow about 15% a year until 2025.

Coca-Cola already has a tie-up up with Corona beer brewer Constellation Brands Inc to sell Fresca-branded ready-to-drink cocktails.

(Reporting by Uday Sampath in Bengaluru; Editing by Saumyadeb Chakrabarty)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CONSTELLATION BRANDS, INC. 0.80% 250.15 Delayed Quote.-1.12%
MONSTER BEVERAGE CORPORATION -0.83% 91.51 Delayed Quote.-3.92%
PEPSICO, INC. -0.06% 180.22 Delayed Quote.3.81%
All news about MONSTER BEVERAGE CORPORATION
08/05US Stocks End Friday Mixed After Strong Jobs Data
MT
08/05US Stocks End Friday Mixed After Strong Jobs Data
MT
08/05MONSTER BEVERAGE CORP MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND ..
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08/05Zillow, Monster Beverage fall; Yelp, Atlassian rise
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08/05US Stocks Drop Midday After Strong Jobs Report
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08/05MIDDAY REPORT : US Stocks Drop, Treasury Yields Jump With Dollar as Hot July Jobs Data Wea..
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08/05UBS Adjusts Monster Beverage Price Target to $99 From $94, Maintains Neutral Rating
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08/05Deutsche Bank Adjusts Price Target on Monster Beverage to $107 From $109, Maintains Buy..
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08/05RBC Cuts Price Target on Monster Beverage to $98 From $100, Maintains Outperform Rating
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08/05Morgan Stanley Cuts Price Target on Monster Beverage to $109 From $117, Noting 'Big' Q2..
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Financials (USD)
Sales 2022 6 456 M - -
Net income 2022 1 235 M - -
Net cash 2022 2 382 M - -
P/E ratio 2022 39,6x
Yield 2022 -
Capitalization 48 621 M 48 621 M -
EV / Sales 2022 7,16x
EV / Sales 2023 6,43x
Nbr of Employees 3 775
Free-Float 58,3%
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Technical analysis trends MONSTER BEVERAGE CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 92,28 $
Average target price 98,45 $
Spread / Average Target 6,69%
EPS Revisions
Managers and Directors
Rodney Cyril Sacks Chairman & Co-Chief Executive Officer
Hilton Hiller Schlosberg Vice Chairman & Co-Chief Executive Officer
Thomas J. Kelly CFO & Principal Accounting Officer
Gary P. Fayard Independent Director
Mark S. Vidergauz Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
MONSTER BEVERAGE CORPORATION-3.92%48 621
THE COCA-COLA COMPANY9.83%281 231
PEPSICO, INC.3.81%248 825
NONGFU SPRING CO., LTD.-10.01%66 408
KEURIG DR PEPPER INC.8.74%56 756
COCA-COLA EUROPACIFIC PARTNERS PLC10.53%25 217