Monster Beverage Co. (NASDAQ:MNST) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 297,842 shares of the company’s stock after buying an additional 34,045 shares during the period. Cibc World Markets Corp’s holdings in Monster Beverage were worth $15,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Monster Beverage by 62.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Monster Beverage during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Monster Beverage in the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Monster Beverage during the fourth quarter worth $31,000. Finally, Geneos Wealth Management Inc. acquired a new position in Monster Beverage during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Insider Buying and Selling

In other Monster Beverage news, Director Mark J. Hall sold 12,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $54.50, for a total transaction of $654,000.00. Following the completion of the sale, the director now owns 296,846 shares of the company’s stock, valued at approximately $16,178,107. The trade was a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Emelie Tirre sold 91,316 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.38, for a total value of $5,057,080.08. Following the completion of the transaction, the insider now owns 76,201 shares in the company, 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. Over the last quarter, insiders sold 198,316 shares of company stock valued at $10,931,740. Insiders own 7.80% of the company’s stock.

Monster Beverage Price Performance

MNST stock opened at $56.21 on Tuesday. The stock has a market capitalization of $54.70 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. The stock’s fifty day simple moving average is $50.89 and its 200-day simple moving average is $51.85. Monster Beverage Co. has a 52-week low of $43.32 and a 52-week high of $61.21. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Monster Beverage had a net margin of 21.66% and a return on equity of 23.31%. Equities research analysts expect that Monster Beverage Co. will post 1.62 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on MNST shares. BNP Paribas decreased their target price on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and set a $59.00 target price on shares of Monster Beverage in a research report on Wednesday, January 22nd. Citigroup lifted their price target on shares of Monster Beverage from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Morgan Stanley upped their price target on Monster Beverage from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Monster Beverage from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has an average rating of “Hold” and an average target price of $55.83.

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.