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 research report report published on Monday morning, Benzinga reports. The brokerage currently has a $64.00 price target on the stock.

A number of other analysts have also recently weighed in on MNST. JPMorgan Chase & Co. cut Monster Beverage from an overweight rating to a neutral rating and dropped their price target for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. Morgan Stanley reduced their target price on shares of Monster Beverage from $65.00 to $60.00 and set an overweight rating for the company in a report on Friday, June 14th. BMO Capital Markets dropped their price target on Monster Beverage from $58.00 to $56.00 and set a market perform rating on the stock in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Monster Beverage from $66.00 to $63.00 and set a buy rating for the company in a research note on Friday, June 14th. Finally, Redburn Atlantic initiated coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They issued a buy rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $60.05.

Monster Beverage Stock Down 0.4 %

NASDAQ MNST opened at $49.16 on Monday. The stock has a market cap of $51.21 billion, a PE ratio of 30.92, a P/E/G ratio of 1.96 and a beta of 0.76. The business has a 50 day moving average price of $51.98 and a two-hundred day moving average price of $55.16. Monster Beverage has a fifty-two week low of $47.13 and a fifty-two week high of $61.22.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $1.90 billion for 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%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Sell-side analysts anticipate that Monster Beverage will post 1.76 EPS for the current fiscal year.

Insider Activity

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction dated 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 owns 1,875,558 shares of the company’s stock, valued at approximately $99,404,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Monster Beverage news, CEO Hilton H. Schlosberg sold 42,144 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now 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 Securities & Exchange Commission, which is available at this link. Also, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction dated 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 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. In the last quarter, insiders have sold 307,221 shares of company stock valued at $16,070,374. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors have recently added to or reduced their stakes in MNST. Tower Research Capital LLC TRC increased its holdings in shares of Monster Beverage by 59.9% in the fourth 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 in the last quarter. Alaethes Wealth LLC bought a new stake in Monster Beverage in the fourth quarter valued at about $1,528,000. Louisiana State Employees Retirement System acquired a new position in Monster Beverage in the fourth quarter valued at about $7,340,000. Defender Capital LLC. increased its stake in shares of Monster Beverage by 30.2% in the 4th quarter. Defender Capital LLC. now owns 371,077 shares of the company’s stock valued at $21,378,000 after acquiring an additional 86,050 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $517,035,000. 72.36% of the stock is owned by institutional investors.

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.