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

Royal Bank of Canada reiterated their outperform rating on shares of Monster Beverage (NASDAQ:MNST) in a report published on Monday, Benzinga reports. The firm currently has a $64.00 price target on the stock.

MNST has been the topic of several other research reports. Roth Mkm cut their price target on Monster Beverage from $59.00 to $56.00 and set a neutral rating on the stock in a research report on Wednesday, June 12th. BNP Paribas initiated coverage on shares of Monster Beverage in a report on Monday, June 24th. They issued an underperform rating and a $48.00 target price on the stock. Redburn Atlantic began coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They set a buy rating for the company. UBS Group dropped 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 note on Friday, May 3rd. Finally, Piper Sandler raised their price target on Monster Beverage from $58.00 to $59.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $60.05.

Monster Beverage Trading Down 0.4 %

Shares of Monster Beverage stock opened at $49.16 on Monday. The company has a fifty day simple moving average of $52.09 and a 200-day simple moving average of $55.20. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22. The stock has a market cap of $51.21 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.98 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, analysts forecast that Monster Beverage will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’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 transaction, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $52.22, for a total value of $13,055,000.00. Following the completion of the sale, the director now directly owns 532,754 shares in the company, valued at approximately $27,820,413.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its stake in Monster Beverage by 9.6% in the 3rd quarter. Truist Financial Corp now owns 756,744 shares of the company’s stock valued at $40,070,000 after buying an additional 66,514 shares in the last quarter. Glenmede Trust Co. NA increased its position in Monster Beverage by 69.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,121 shares of the company’s stock worth $1,754,000 after purchasing an additional 13,533 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Monster Beverage by 16.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 27,401 shares of the company’s stock valued at $1,451,000 after purchasing an additional 3,773 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Monster Beverage by 17.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,616,767 shares of the company’s stock worth $138,559,000 after purchasing an additional 387,242 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Monster Beverage during the third quarter worth about $315,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Monster Beverage Company Profile

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.