Royal Bank of Canada Has $99.02 Million Holdings in Monster Beverage Corporation $MNST

Key Points

• Royal Bank of Canada reduced its stake in Monster Beverage Corporation by 9.3%, selling 174,057 shares during the first quarter, leaving it with 1,692,072 shares valued at approximately $99 million.
• Multiple analysts recently upgraded their ratings on Monster Beverage, with Piper Sandler raising the target price from $54 to $74, while consensus rating remains at "Hold" with a price target of $65.10.
• Monster Beverage's latest quarterly earnings beat expectations, reporting $0.52 EPS and $2.11 billion in revenue, marking an 11.1% increase year-over-year.

Royal Bank of Canada reduced its stake in Monster Beverage Corporation (NASDAQ:MNST - Free Report) by 9.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,692,072 shares of the company's stock after selling 174,057 shares during the quarter. Royal Bank of Canada owned approximately 0.17% of Monster Beverage worth $99,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Twin Capital Management Inc. raised its holdings in shares of Monster Beverage by 11.6% in the 1st quarter. Twin Capital Management Inc. now owns 5,213 shares of the company's stock worth $305,000 after purchasing an additional 540 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Monster Beverage by 2.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 315,704 shares of the company's stock valued at $18,475,000 after acquiring an additional 7,465 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Monster Beverage by 76.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,906 shares of the company's stock valued at $3,915,000 after acquiring an additional 28,932 shares during the period. Principal Financial Group Inc. grew its position in Monster Beverage by 0.9% during the first quarter. Principal Financial Group Inc. now owns 1,289,392 shares of the company's stock worth $75,455,000 after buying an additional 11,443 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Monster Beverage by 3.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 423,548 shares of the company's stock worth $24,786,000 after acquiring an additional 15,493 shares during the period. 72.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Roth Mkm increased their target price on shares of Monster Beverage from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group raised their price objective on shares of Monster Beverage from $67.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Wells Fargo & Company set a $73.00 price target on shares of Monster Beverage and gave the company an "overweight" rating in a research note on Friday, August 8th. UBS Group upped their price objective on Monster Beverage from $64.00 to $67.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Bank of America lifted their target price on Monster Beverage from $66.00 to $72.00 and gave the company a "buy" rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $65.10.

Insider Activity at Monster Beverage

In other Monster Beverage news, Director Mark Vidergauz sold 10,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $63.73, for a total transaction of $637,300.00. Following the transaction, the director directly owned 51,191 shares of the company's stock, valued at $3,262,402.43. This trade represents a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.80% of the stock is currently owned by company insiders.

Monster Beverage Trading Up 0.3%

MNST stock traded up $0.19 during mid-day trading on Monday, hitting $62.65. The stock had a trading volume of 2,250,842 shares, compared to its average volume of 6,056,246. The company has a fifty day moving average of $61.62 and a 200 day moving average of $60.17. The stock has a market capitalization of $61.17 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 2.17 and a beta of 0.54. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $66.75.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Monster Beverage had a return on equity of 27.46% and a net margin of 20.54%.The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

About Monster Beverage

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.