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

Monster Beverage (NASDAQ:MNST)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $59.00 target price on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 22.64% from the company’s current price.

Several other brokerages have also issued reports on MNST. UBS Group decreased their price target on shares of Monster Beverage from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Needham & Company LLC started coverage on Monster Beverage in a research note on Friday, December 6th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Bank of America increased their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, TD Cowen upped their price objective on Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.42.

Monster Beverage Stock Performance

NASDAQ:MNST opened at $48.11 on Wednesday. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $52.39 and its 200 day simple moving average is $51.26. The firm has a market capitalization of $46.79 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.74.

Insider Activity at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction on Friday, December 13th. The shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the sale, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at approximately $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Monster Beverage

Several large investors have recently made changes to their positions in MNST. Caprock Group LLC grew its stake in Monster Beverage by 15.6% in the fourth quarter. Caprock Group LLC now owns 16,255 shares of the company’s stock valued at $854,000 after acquiring an additional 2,198 shares during the period. Fortune Financial Advisors LLC lifted its holdings in shares of Monster Beverage by 2.1% in the 4th quarter. Fortune Financial Advisors LLC now owns 25,197 shares of the company’s stock worth $1,324,000 after purchasing an additional 513 shares in the last quarter. Mediolanum International Funds Ltd grew its position in Monster Beverage by 85.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 599,180 shares of the company’s stock valued at $31,398,000 after purchasing an additional 276,696 shares during the period. Crews Bank & Trust bought a new stake in Monster Beverage during the 4th quarter valued at $348,000. Finally, Invesco LLC raised its holdings in Monster Beverage by 9.5% during the fourth quarter. Invesco LLC now owns 40,970 shares of the company’s stock worth $2,153,000 after buying an additional 3,565 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

About Monster Beverage

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.