Monster Beverage Co. (NASDAQ:MNST) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its holdings in Monster Beverage Co. (NASDAQ:MNST) by 659.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,872,972 shares of the company’s stock after purchasing an additional 4,231,063 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.50% of Monster Beverage worth $251,445,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Monster Beverage by 62.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 528 shares of the company’s stock valued at $28,000 after buying an additional 203 shares during the period. Spire Wealth Management bought a new position in shares of Monster Beverage during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Monster Beverage during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Monster Beverage in the 4th quarter worth approximately $30,000. Finally, Geneos Wealth Management Inc. acquired a new position in Monster Beverage during the 4th quarter valued at approximately $33,000. Institutional investors own 72.36% of the company’s stock.

Monster Beverage Stock Down 1.2 %

MNST stock opened at $57.86 on Friday. Monster Beverage Co. has a 12 month low of $43.32 and a 12 month high of $59.56. The firm has a 50 day simple moving average of $52.19 and a 200 day simple moving average of $52.39. The firm has a market cap of $56.31 billion, a PE ratio of 37.09, a P/E/G ratio of 2.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.13 and a quick ratio of 2.51.

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

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $55.27, for a total transaction of $552,700.00. Following the transaction, the chief financial officer now directly owns 72,273 shares of the company’s stock, valued at approximately $3,994,528.71. The trade was a 12.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Emelie Tirre sold 91,316 shares of the 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 sale, the insider now directly owns 76,201 shares of the company’s stock, valued at approximately $4,220,011.38. This represents a 54.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,316 shares of company stock valued at $11,484,440. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MNST has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Monster Beverage from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $59.00 price objective on shares of Monster Beverage in a research report on Wednesday, January 22nd. UBS Group raised their price target on shares of Monster Beverage from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Citigroup boosted their price objective on Monster Beverage from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on Monster Beverage from $51.00 to $53.00 and gave the company a “neutral” rating in a research 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.83.

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.