Cibc World Markets Corp Boosts Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Cibc World Markets Corp raised its position in shares of Monster Beverage Co. (NASDAQ:MNST - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC boosted its holdings in Monster Beverage by 192.3% during the 4th quarter. Corient Private Wealth LLC now owns 554,651 shares of the company's stock valued at $29,153,000 after acquiring an additional 364,929 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Monster Beverage by 0.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 82,448 shares of the company's stock worth $4,333,000 after purchasing an additional 272 shares in the last quarter. Pollock Investment Advisors LLC purchased a new position in shares of Monster Beverage in the fourth quarter valued at approximately $378,000. Frank Rimerman Advisors LLC grew its holdings in shares of Monster Beverage by 33.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 10,498 shares of the company's stock valued at $552,000 after purchasing an additional 2,607 shares in the last quarter. Finally, First National Trust Co purchased a new stake in Monster Beverage during the 4th quarter worth approximately $200,000. 72.36% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, insider Emelie Tirre sold 91,316 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.38, for a total transaction of $5,057,080.08. Following the completion of the sale, the insider now owns 76,201 shares in the company, valued at approximately $4,220,011.38. This represents a 54.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Guy Carling sold 47,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $55.02, for a total value of $2,585,940.00. Following the completion of the transaction, the insider now owns 21,993 shares in the company, valued at $1,210,054.86. This trade represents a 68.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,316 shares of company stock worth $11,484,440 in the last 90 days. Company insiders own 7.80% of the company's stock.

Monster Beverage Stock Performance

Shares of NASDAQ MNST traded up $0.44 during trading hours on Friday, reaching $57.31. The stock had a trading volume of 7,642,762 shares, compared to its average volume of 6,696,306. The firm has a 50-day moving average of $51.20 and a 200-day moving average of $51.99. The firm has a market cap of $55.77 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 2.28 and a beta of 0.71. 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 Co. has a fifty-two week low of $43.32 and a fifty-two week high of $60.55.

Monster Beverage (NASDAQ:MNST - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm 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 predict that Monster Beverage Co. will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

MNST has been the subject of several recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $59.00 price target on shares of Monster Beverage in a research report on Wednesday, January 22nd. Citigroup lifted their target price on Monster Beverage from $62.00 to $64.00 and gave the company a "buy" rating in a 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. Needham & Company LLC reiterated a "hold" rating on shares of Monster Beverage in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Monster Beverage from $51.00 to $53.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.