Monster Beverage (NASDAQ:MNST) Given New $88.00 Price Target at Royal Bank Of Canada

Monster Beverage (NASDAQ:MNST) had its target price boosted by analysts at Royal Bank Of Canada from $83.00 to $88.00 in a research note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 3.91% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus set a $82.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a report on Friday, December 12th. Morgan Stanley reissued an “overweight” rating and issued a $96.00 target price (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Piper Sandler set a $85.00 price target on Monster Beverage in a research report on Wednesday, December 3rd. The Goldman Sachs Group boosted their price target on Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Monster Beverage from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Fourteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Monster Beverage Stock Performance

Shares of MNST stock opened at $84.69 on Tuesday. Monster Beverage has a fifty-two week low of $50.93 and a fifty-two week high of $84.88. The firm has a market capitalization of $82.74 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 2.17 and a beta of 0.45. The stock’s 50-day simple moving average is $79.28 and its 200-day simple moving average is $71.92.

Insider Transactions at Monster Beverage

In other news, Director Rodney C. Sacks sold 206,543 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.58, for a total value of $15,197,433.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.31, for a total value of $2,199,300.00. Following the sale, the insider directly owned 63,939 shares in the company, valued at approximately $4,687,368.09. This trade represents a 31.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in shares of Monster Beverage by 222.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 50,296 shares of the company’s stock worth $3,385,000 after buying an additional 34,697 shares during the last quarter. Prudential PLC grew its stake in shares of Monster Beverage by 76.4% in the second quarter. Prudential PLC now owns 108,930 shares of the company’s stock worth $6,823,000 after purchasing an additional 47,165 shares in the last quarter. VestGen Advisors LLC increased its stake in Monster Beverage by 449.4% during the 2nd quarter. VestGen Advisors LLC now owns 21,974 shares of the company’s stock valued at $1,376,000 after buying an additional 17,974 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Monster Beverage by 87.8% during the third quarter. Perigon Wealth Management LLC now owns 32,141 shares of the company’s stock valued at $2,163,000 after acquiring an additional 15,029 shares during the period. Finally, ABN AMRO Bank N.V. acquired a new position in shares of Monster Beverage during the 3rd quarter valued at $59,170,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.