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 note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $59.00 price target on the stock.

MNST has been the topic of several other reports. Argus raised their price objective on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. 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. JPMorgan Chase & Co. lowered their target price on shares of Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, November 4th. TD Cowen lifted their target price on shares of Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lifted their target price on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Two research 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. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Hold” and a consensus price target of $55.42.

Monster Beverage Stock Performance

MNST opened at $48.28 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 company’s fifty day moving average price is $52.24 and its two-hundred day moving average price is $51.23. Monster Beverage has a 1-year low of $43.32 and a 1-year high of $61.22. The company has a market cap of $46.95 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.08 and a beta of 0.74.

Insider Activity at Monster Beverage

In other news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the transaction, the chief financial officer now directly owns 74,924 shares in the company, valued at approximately $3,944,748.60. This represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MNST. Spire Wealth Management bought a new position in shares of Monster Beverage during the 4th quarter valued at $29,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Monster Beverage during the 2nd quarter valued at $30,000. Retirement Wealth Solutions LLC bought a new position in shares of Monster Beverage during the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. bought a new position in shares of Monster Beverage during the fourth quarter valued at about $33,000. Finally, Quarry LP grew its stake in shares of Monster Beverage by 152.0% during the second quarter. Quarry LP now owns 824 shares of the company’s stock valued at $41,000 after buying an additional 497 shares during the last quarter. 72.36% of the stock is currently owned by 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.