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

CIBC Asset Management Inc boosted its stake in Monster Beverage Co. (NASDAQ:MNST) by 27.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 349,299 shares of the company’s stock after purchasing 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 quarter.

Other large investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised 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 purchased a new stake in Monster Beverage during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Monster Beverage during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. purchased a new position in shares of Monster Beverage in the fourth quarter valued at approximately $33,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Monster Beverage by 16,085.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,133 shares of the company’s stock valued at $59,000 after purchasing an additional 1,126 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Monster Beverage news, CFO Thomas J. Kelly sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $52.65, for a total transaction of $526,500.00. Following the completion of the sale, the chief financial officer now directly owns 74,924 shares of the company’s stock, valued at $3,944,748.60. This represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.80% of the company’s stock.

Monster Beverage Trading Down 0.5 %

MNST opened at $49.25 on Tuesday. The firm has a market cap of $47.90 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. Monster Beverage Co. has a 52 week low of $43.32 and a 52 week high of $61.22. The business’s 50 day moving average is $50.34 and its two-hundred day moving average is $50.97. The company has a quick ratio of 2.51, a current ratio of 3.13 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

MNST has been the subject of several recent research reports. BNP Paribas decreased their price target on shares of Monster Beverage from $46.00 to $45.00 and set an “underperform” rating for the company in a research report on Thursday, December 19th. UBS Group decreased their target price on Monster Beverage from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price target on shares of Monster Beverage in a report on Wednesday, January 22nd. Argus lifted their price objective on Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen boosted their price objective on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.