Royal Bank of Canada Reiterates “Outperform” Rating for Monster Beverage (NASDAQ:MNST)

Monster Beverage (NASDAQ:MNST)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $59.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 22.64% from the company’s previous close.

Several other analysts also recently commented on MNST. Bank of America increased their target price on shares of Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. BNP Paribas reduced their target price on Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a report on Thursday, December 19th. Needham & Company LLC started coverage on Monster Beverage in a report on Friday, December 6th. They set a “hold” rating on the stock. Finally, UBS Group reduced their price objective on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.42.

Monster Beverage Trading Down 2.2 %

NASDAQ MNST opened at $48.11 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $52.39 and a 200 day simple moving average of $51.26. Monster Beverage has a 12 month low of $43.32 and a 12 month high of $61.22. The firm has a market capitalization of $46.79 billion, a P/E ratio of 30.84, a PEG ratio of 2.08 and a beta of 0.74.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $52.65, for a total value of $526,500.00. Following the completion of the transaction, the chief financial officer now owns 74,924 shares in the company, valued at $3,944,748.60. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Monster Beverage

Hedge funds and other institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in Monster Beverage during the 2nd quarter worth approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of Monster Beverage during the 4th quarter valued at $30,000. Geneos Wealth Management Inc. bought a new position in shares of Monster Beverage in the fourth quarter worth $33,000. Quarry LP raised its position in shares of Monster Beverage by 152.0% in the second quarter. Quarry LP now owns 824 shares of the company’s stock worth $41,000 after buying an additional 497 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Monster Beverage by 16,085.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock valued at $59,000 after buying an additional 1,126 shares during the period. 72.36% of the stock is currently 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.