Monster Beverage (NASDAQ:MNST) Earns Outperform Rating from Royal Bank of Canada

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

Several other brokerages also recently issued reports on MNST. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Monster Beverage from $64.00 to $63.00 and set a buy rating on the stock in a research report on Monday, February 26th. BMO Capital Markets lowered their price objective on shares of Monster Beverage from $58.00 to $56.00 and set a market perform rating on the stock in a research report on Friday, May 3rd. Piper Sandler raised their price objective on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a neutral rating 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. Finally, Morgan Stanley lowered their target price on shares of Monster Beverage from $65.00 to $60.00 and set an overweight rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $60.79.

Monster Beverage Stock Up 2.3 %

Shares of MNST stock opened at $49.13 on Friday. Monster Beverage has a 52 week low of $47.13 and a 52 week high of $61.22. The stock has a market capitalization of $51.18 billion, a PE ratio of 30.90, a P/E/G ratio of 1.81 and a beta of 0.76. The firm has a 50 day moving average of $53.14 and a two-hundred day moving average of $55.63.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data 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). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. Monster Beverage’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts expect that Monster Beverage will post 1.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Vidergauz sold 15,077 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the completion of the transaction, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. 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 over the last 90 days. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in Monster Beverage by 59.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 132,086 shares of the company’s stock worth $7,609,000 after buying an additional 49,495 shares during the period. Alaethes Wealth LLC purchased a new stake in Monster Beverage during the fourth quarter worth approximately $1,528,000. Louisiana State Employees Retirement System purchased a new stake in Monster Beverage during the fourth quarter worth approximately $7,340,000. Defender Capital LLC. grew its stake in Monster Beverage by 30.2% during the fourth quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock worth $21,378,000 after buying an additional 86,050 shares during the period. Finally, Norges Bank purchased a new stake in Monster Beverage during the fourth quarter worth approximately $517,035,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

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.