CIBC Asset Management Inc Has $18.36 Million Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

CIBC Asset Management Inc grew its stake in Monster Beverage Co. (NASDAQ:MNST - Free Report) by 27.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 349,299 shares of the company's stock after acquiring an additional 75,591 shares during the quarter. CIBC Asset Management Inc's holdings in Monster Beverage were worth $18,359,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Creative Planning lifted its holdings in Monster Beverage by 12.8% in the third quarter. Creative Planning now owns 90,773 shares of the company's stock valued at $4,736,000 after acquiring an additional 10,284 shares during the period. Claro Advisors LLC bought a new position in Monster Beverage in the 3rd quarter worth approximately $283,000. Blue Trust Inc. boosted its position in shares of Monster Beverage by 72.3% during the third quarter. Blue Trust Inc. now owns 7,198 shares of the company's stock worth $360,000 after acquiring an additional 3,020 shares during the last quarter. Raymond James & Associates grew its position in shares of Monster Beverage by 23.2% during the third quarter. Raymond James & Associates now owns 1,387,369 shares of the company's stock valued at $72,379,000 after purchasing an additional 261,460 shares in the last quarter. Finally, Barden Capital Management Inc. boosted its position in shares of Monster Beverage by 14.0% during the 3rd quarter. Barden Capital Management Inc. now owns 17,741 shares of the company's stock valued at $926,000 after acquiring an additional 2,174 shares during the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

Shares of NASDAQ MNST traded up $1.79 during midday trading on Friday, hitting $53.00. The company had a trading volume of 7,703,034 shares, compared to its average volume of 6,357,763. The business has a 50-day simple moving average of $50.18 and a two-hundred day simple moving average of $50.97. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $51.54 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of Monster Beverage stock in a transaction on Friday, December 13th. The shares were sold at an average price of $52.65, for a total value of $526,500.00. Following the transaction, the chief financial officer now owns 74,924 shares in the company, valued at $3,944,748.60. This trade represents a 11.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on MNST shares. 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. Wells Fargo & Company boosted their price objective on shares of Monster Beverage from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. UBS Group lowered their price target on shares of Monster Beverage from $57.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. BNP Paribas dropped their target price on Monster Beverage from $46.00 to $45.00 and set an "underperform" rating on the stock in a research note on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Monster Beverage from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $55.53.

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.