Monster Beverage Corporation’s (MNST) “Buy” Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Monster Beverage Corporation (NASDAQ:MNST) in a research report sent to investors on Friday morning. The brokerage currently has a $61.00 target price on the stock.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Monster Beverage Corporation from a hold rating to a buy rating and set a $58.00 price target on the stock in a research report on Monday, July 17th. Credit Suisse Group cut shares of Monster Beverage Corporation to a hold rating in a research report on Friday, September 8th. Cowen and Company reissued a buy rating and set a $58.00 price target on shares of Monster Beverage Corporation in a research report on Friday, July 14th. BMO Capital Markets reissued a buy rating and set a $58.00 price target on shares of Monster Beverage Corporation in a research report on Wednesday, September 6th. Finally, BidaskClub raised shares of Monster Beverage Corporation from a hold rating to a buy rating in a research report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $56.86.
Monster Beverage Corporation (NASDAQ MNST) opened at 55.81 on Friday. The firm’s 50-day moving average is $54.84 and its 200 day moving average is $50.17. The firm has a market capitalization of $31.71 billion, a P/E ratio of 42.22 and a beta of 0.99. Monster Beverage Corporation has a 52-week low of $40.64 and a 52-week high of $57.25.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The business had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Monster Beverage Corporation will post $1.48 EPS for the current year.
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In other news, Director Sydney Selati sold 10,000 shares of the company’s 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 sale, the director now directly owns 52,000 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC acquired a new position in Monster Beverage Corporation in the 2nd quarter valued at about $11,992,000. Toronto Dominion Bank grew its stake in Monster Beverage Corporation by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 136,529 shares of the company’s stock valued at $6,782,000 after buying an additional 27,994 shares during the last quarter. WINTON GROUP Ltd grew its stake in Monster Beverage Corporation by 1,476.5% in the 2nd quarter. WINTON GROUP Ltd now owns 181,329 shares of the company’s stock valued at $9,008,000 after buying an additional 169,827 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Monster Beverage Corporation by 3.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 299,149 shares of the company’s stock valued at $14,862,000 after buying an additional 10,544 shares during the last quarter. Finally, Covington Capital Management acquired a new position in Monster Beverage Corporation in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 65.89% of the company’s stock.
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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