Monster Beverage Co. (NASDAQ:MNST) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of Monster Beverage Co. (NASDAQ:MNST) by 27.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 349,299 shares of the company’s stock after buying an additional 75,591 shares during the period. CIBC Asset Management Inc’s holdings in Monster Beverage were worth $18,359,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Monster Beverage

In related news, CFO Thomas J. Kelly sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 approximately $3,944,748.60. The trade was a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.80% of the stock is currently owned by corporate insiders.

Monster Beverage Price Performance

MNST opened at $49.25 on Tuesday. Monster Beverage Co. has a twelve month low of $43.32 and a twelve month high of $61.22. The firm has a market cap of $47.90 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.96 and a beta of 0.74. The company has a current ratio of 3.13, a quick ratio of 2.51 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $50.34 and a 200 day simple moving average of $50.97.

Analysts Set New Price Targets

A number of research analysts have recently commented on MNST shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Monster Beverage in a research note on Wednesday, January 22nd. TD Cowen lifted their price target on shares of Monster Beverage from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on Monster Beverage from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. UBS Group reduced their target price on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Stifel Nicolaus raised their price objective on Monster Beverage from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.53.

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.