Monster Beverage (NASDAQ:MNST) Rating Reiterated by Royal Bank of Canada

Monster Beverage (NASDAQ:MNST)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $64.00 price objective on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 27.69% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. UBS Group dropped their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their price target for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. BNP Paribas assumed coverage on shares of Monster Beverage in a research note on Monday, June 24th. They set an “underperform” rating and a $48.00 price target for the company. Morgan Stanley dropped their price target on shares of Monster Beverage from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. cut shares of Monster Beverage from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $66.00 to $59.00 in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.05.

Monster Beverage Stock Up 0.3 %

NASDAQ MNST traded up $0.17 on Monday, reaching $50.12. The company had a trading volume of 326,651 shares, compared to its average volume of 7,571,966. The stock has a market capitalization of $52.21 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. The firm’s 50 day moving average price is $52.25 and its 200 day moving average price is $55.28. Monster Beverage has a 12 month low of $47.13 and a 12 month high of $61.22.

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

Insiders Place Their Bets

In other Monster Beverage news, Director Mark Vidergauz sold 15,077 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares in the company, valued at $3,534,458.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction dated 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 $27,820,413.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the sale, the director now owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 307,221 shares of company stock worth $16,070,374. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Hedge funds have recently modified their holdings of the business. LRI Investments LLC acquired a new stake in Monster Beverage during the first quarter worth about $26,000. ICA Group Wealth Management LLC purchased a new position in Monster Beverage during the fourth quarter worth about $27,000. Headinvest LLC purchased a new position in Monster Beverage during the third quarter worth about $28,000. Tortoise Investment Management LLC boosted its stake in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 396 shares during the period. Finally, Crewe Advisors LLC purchased a new position in Monster Beverage during the first quarter worth about $37,000. 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.