Monday, 10 December, 2018

Coke's plan for energy drinks draws protest from Monster

Monster ticked part-owner Coke is planning own energy drinks Monster shares plunge as Coke plans energy-drink
Priscilla Morrison | 11 November, 2018, 08:23

The stock presently has an average rating of "Hold" and a consensus target price of $51.22.

The twist? Coke owns more than 18 percent of Monster, and distributes its products.

"We have submitted the difference in interpretation to an arbitration panel for resolution, which is the mechanism agreed by the Coca-Cola Co and Monster in the original agreements", a Coca-Cola spokesperson told Reuters.

The drinkmaker has agreed to suspend the launch of launch of Coca-Cola Energy until April next year, Sacks said. Seekingalpha.com's news article titled: "Monster -13% after disclosing fight with Coca-Cola" with publication date: November 08, 2018 was also an interesting one.

The company initially took a almost 17 percent stake in energy drinks maker Monster Beverage Corp in 2015, making Coke the largest shareholder, to sample at a distance the market in which it had a small presence with its NOS and Full throttle brands.

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Coca-Cola's energy drink plans are the latest in a recent slew of initiatives created to counter declining soft drink sales. "That is really where we are". "As in any commercial relationship, we will abide by our contractual obligations", Coca-Cola said in a statement. That's bad news for Monster Beverage Corp.

Monster's chief executive Rodney Sacks revealed on a call with analysts that the two companies are in arbitration over the drinks. See now: Pepsi will buy SodaStream, in extended shift away from sugary drinks Coca-Cola is planning to launch two products next year independent of the arbitration process as a way to promote growth in the sparkling category, they wrote in a note.

"We continue to make progress in our strategic alignment with Coca-Cola system bottlers and have now fully transitioned Monster Energy® from our former Anheuser-Busch distributors to Coca-Cola bottlers in the United States". Redpoint Investment Management Pty Ltd now owns 219,338 shares of the company's stock valued at $10,131,000 after purchasing an additional 5,776 shares in the last quarter. "Ultimately, we think this adds credence to our thesis that Coca-Cola will eventually acquire Monster Beverage, although not likely before the end of 2019". WP Advisors LLC acquired a new stake in The Coca-Cola in the second quarter valued at $107,000.

Guggenheim rates Monster a buy with a stock price target of $72, or 45% below its current trading level. The company beat EPS estimates by 6% and revenue estimates by about 3%. Societe Generale set a $49.00 price objective on shares of The Coca-Cola and gave the stock a "neutral" rating in a report on Monday, August 13th.

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