Royal Bank Of Canada reaffirmed their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research report released on Friday morning. Royal Bank Of Canada currently has a $61.00 target price on the stock.
MNST has been the subject of several other reports. Zacks Investment Research downgraded shares of Monster Beverage Corporation from a hold rating to a sell rating in a research note on Wednesday, July 5th. Susquehanna Bancshares Inc reaffirmed a hold rating and set a $42.00 price objective (down from $45.00) on shares of Monster Beverage Corporation in a research note on Monday, August 7th. Cowen and Company reaffirmed an outperform rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Thursday, June 22nd. BMO Capital Markets reaffirmed a buy rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research note on Wednesday, September 6th. Finally, Jefferies Group LLC upped their price objective on shares of Monster Beverage Corporation from $63.00 to $65.00 and gave the company a buy rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Monster Beverage Corporation currently has a consensus rating of Buy and a consensus target price of $56.86.
Monster Beverage Corporation (NASDAQ:MNST) traded up 0.43% on Friday, hitting $55.81. The stock had a trading volume of 1,127,324 shares. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $57.25. The company has a market cap of $31.71 billion, a P/E ratio of 42.22 and a beta of 0.99. The stock’s 50-day moving average is $54.84 and its 200-day moving average is $50.17.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 22.96%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $0.99 earnings per share. Analysts expect that Monster Beverage Corporation will post $1.48 earnings per share for the current year.
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In related news, Director Sydney Selati sold 10,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the director now directly owns 52,000 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MNST. BlackRock Inc. increased its stake in shares of Monster Beverage Corporation by 1,887.5% during the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock valued at $995,459,000 after purchasing an additional 20,475,879 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Monster Beverage Corporation by 297.8% during the first quarter. Renaissance Technologies LLC now owns 1,804,200 shares of the company’s stock valued at $83,300,000 after purchasing an additional 1,350,700 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Monster Beverage Corporation by 91.8% during the first quarter. William Blair Investment Management LLC now owns 2,000,603 shares of the company’s stock valued at $92,368,000 after purchasing an additional 957,769 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Monster Beverage Corporation by 6,737.7% during the second quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock valued at $17,920,000 after purchasing an additional 877,246 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Monster Beverage Corporation during the first quarter valued at approximately $40,417,000. 65.89% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Corporation Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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