Monster Beverage’s (MNST) “Outperform” Rating Reiterated at Royal Bank of Canada

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

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut their price target on Monster Beverage from $65.00 to $60.00 and set an overweight rating for the company in a report on Friday. Truist Financial lowered Monster Beverage from a buy rating to a sell rating and reduced their price target for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. Redburn Atlantic initiated coverage on shares of Monster Beverage in a report on Wednesday, March 6th. They issued a buy rating for the company. BMO Capital Markets reduced their target price on shares of Monster Beverage from $58.00 to $56.00 and set a market perform rating on the stock in a research note on Friday, May 3rd. Finally, Stifel Nicolaus dropped their price target on shares of Monster Beverage from $65.00 to $63.00 and set a buy rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $61.11.

Monster Beverage Stock Performance

Shares of MNST stock opened at $48.03 on Friday. Monster Beverage has a fifty-two week low of $47.13 and a fifty-two week high of $61.22. The firm has a market capitalization of $50.03 billion, a P/E ratio of 30.21, a PEG ratio of 2.09 and a beta of 0.76. The stock’s fifty day moving average is $53.27 and its two-hundred day moving average is $55.66.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that Monster Beverage will post 1.77 earnings per share for the current year.

Insider Buying and Selling at Monster Beverage

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of Monster Beverage stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock valued at $16,070,374 in the last three months. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Monster Beverage

Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of Monster Beverage by 59.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock valued at $7,609,000 after purchasing an additional 49,495 shares during the last quarter. Alaethes Wealth LLC purchased a new position in Monster Beverage in the fourth quarter valued at $1,528,000. Louisiana State Employees Retirement System purchased a new position in Monster Beverage in the fourth quarter valued at $7,340,000. Defender Capital LLC. raised its stake in Monster Beverage by 30.2% in the fourth quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock valued at $21,378,000 after buying an additional 86,050 shares in the last quarter. Finally, Norges Bank purchased a new stake in Monster Beverage during the 4th quarter worth about $517,035,000. 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.