Royal Bank of Canada Reiterates “Outperform” Rating for Monster Beverage (NASDAQ:MNST)

Royal Bank of Canada reaffirmed their outperform rating on shares of Monster Beverage (NASDAQ:MNSTFree Report) in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a $65.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of Monster Beverage from $65.00 to $63.00 and set a buy rating on the stock in a research report on Monday, April 29th. UBS Group lowered their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a neutral rating on the stock in a research report on Friday, May 3rd. Truist Financial downgraded shares of Monster Beverage from a buy rating to a sell rating and lowered their price objective for the stock from $65.00 to $46.00 in a research report on Thursday, April 25th. Jefferies Financial Group raised their price objective on shares of Monster Beverage from $66.00 to $69.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Finally, HSBC lowered their price objective on shares of Monster Beverage from $72.00 to $68.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Monster Beverage presently has an average rating of Moderate Buy and a consensus target price of $60.79.

Read Our Latest Stock Report on Monster Beverage

Monster Beverage Price Performance

Shares of NASDAQ:MNST opened at $49.13 on Friday. The company’s fifty day moving average price is $53.14 and its 200 day moving average price is $55.63. Monster Beverage has a 12 month low of $47.13 and a 12 month high of $61.22. The firm has a market capitalization of $51.18 billion, a P/E ratio of 30.90, a P/E/G ratio of 1.81 and a beta of 0.76.

Monster Beverage (NASDAQ:MNSTGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. Monster Beverage’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Monster Beverage will post 1.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark J. Hall sold 250,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the sale, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the sale, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark J. Hall sold 250,000 shares of Monster Beverage stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,221 shares of company stock valued at $16,070,374. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNST. Norges Bank acquired a new position in shares of Monster Beverage in the fourth quarter valued at approximately $517,035,000. Wellington Management Group LLP raised its position in shares of Monster Beverage by 20.3% in the third quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after buying an additional 3,296,466 shares during the last quarter. Capital Research Global Investors raised its position in shares of Monster Beverage by 40.6% in the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after buying an additional 3,026,657 shares during the last quarter. TD Asset Management Inc raised its position in shares of Monster Beverage by 143.8% in the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock valued at $184,921,000 after buying an additional 1,893,064 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Monster Beverage by 34.1% in the first quarter. William Blair Investment Management LLC now owns 4,859,680 shares of the company’s stock valued at $288,082,000 after buying an additional 1,234,718 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

About Monster Beverage

(Get Free Report)

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.

See Also

Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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