Monster Beverage’s (MNST) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Monster Beverage (NASDAQ:MNST) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $64.00 price target on the stock.

Several other equities research analysts also recently issued reports on the company. Redburn Atlantic started coverage on Monster Beverage in a report on Wednesday, March 6th. They issued a buy rating on the stock. Stifel Nicolaus cut their price objective on Monster Beverage from $63.00 to $57.00 and set a buy rating on the stock in a report on Monday, June 17th. Wells Fargo & Company cut their price objective on Monster Beverage from $65.00 to $59.00 and set an overweight rating on the stock in a report on Tuesday, June 25th. Truist Financial downgraded Monster Beverage from a buy rating to a sell rating and cut their price objective for the company from $65.00 to $46.00 in a report on Thursday, April 25th. Finally, Morgan Stanley lowered their target price on Monster Beverage from $65.00 to $60.00 and set an overweight rating for the company in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of Moderate Buy and an average price target of $60.05.

Monster Beverage Stock Down 0.1 %

NASDAQ:MNST opened at $49.90 on Monday. Monster Beverage has a 52 week low of $47.13 and a 52 week high of $61.22. The company has a market capitalization of $51.98 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.98 and a beta of 0.76. The stock’s fifty day moving average is $52.25 and its two-hundred day moving average is $55.28.

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

Insider Activity at Monster Beverage

In related news, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was 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 of the company’s stock, valued at approximately $27,820,413.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was 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 of the company’s stock, valued at approximately $27,820,413.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 68,167 shares of the company’s stock, valued at $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 in the last three months. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MNST. Norges Bank purchased a new position in shares of Monster Beverage in the 4th quarter valued at approximately $517,035,000. Wellington Management Group LLP lifted its holdings in shares of Monster Beverage by 20.3% in the 3rd 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 period. Capital Research Global Investors lifted its holdings in shares of Monster Beverage by 40.6% in the 4th 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 period. TD Asset Management Inc lifted its holdings in shares of Monster Beverage by 143.8% in the 4th 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 period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Monster Beverage by 34.1% in the 1st 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 period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

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.