Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its position in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,866,129 shares of the company's stock after acquiring an additional 449,842 shares during the quarter. Royal Bank of Canada owned 0.19% of Monster Beverage worth $98,083,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MNST. Rafferty Asset Management LLC raised its holdings in Monster Beverage by 9.0% during the fourth quarter. Rafferty Asset Management LLC now owns 309,263 shares of the company's stock worth $16,255,000 after purchasing an additional 25,508 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Monster Beverage during the fourth quarter worth approximately $189,000. Redwood Investment Management LLC acquired a new stake in Monster Beverage during the fourth quarter worth approximately $3,684,000. Point72 Asset Management L.P. acquired a new stake in Monster Beverage during the fourth quarter worth approximately $42,165,000. Finally, ProShare Advisors LLC raised its holdings in Monster Beverage by 18.6% during the fourth quarter. ProShare Advisors LLC now owns 1,203,470 shares of the company's stock worth $63,254,000 after purchasing an additional 188,903 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.

Monster Beverage Trading Up 0.1%

Shares of MNST stock opened at $62.90 on Tuesday. The firm has a 50-day moving average price of $58.66 and a 200 day moving average price of $54.34. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $63.00. The company has a market capitalization of $61.34 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.28 and a beta of 0.63. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company posted $0.42 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts forecast that Monster Beverage Co. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Monster Beverage in a report on Friday, February 28th. Citigroup raised their price objective on shares of Monster Beverage from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Bank of America raised their price objective on shares of Monster Beverage from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Truist Financial raised their target price on shares of Monster Beverage from $40.00 to $50.00 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their target price on shares of Monster Beverage from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.50.

Insider Transactions at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $55.27, for a total value of $552,700.00. Following the completion of the sale, the chief financial officer now owns 72,273 shares of the company's stock, valued at $3,994,528.71. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total value of $5,057,080.08. Following the transaction, the insider now owns 76,201 shares of the company's stock, valued at approximately $4,220,011.38. This trade represents a 54.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,316 shares of company stock worth $11,484,440. 8.30% of the stock is currently owned by company insiders.

Monster Beverage 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.

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