Cibc World Market Inc. Buys 9,004 Shares of Monster Beverage Corporation $MNST

Cibc World Market Inc. lifted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 210,876 shares of the company’s stock after acquiring an additional 9,004 shares during the quarter. Cibc World Market Inc.’s holdings in Monster Beverage were worth $16,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in shares of Monster Beverage by 397.9% in the first quarter. Jones Financial Companies Lllp now owns 15,201 shares of the company’s stock valued at $890,000 after purchasing an additional 12,148 shares during the period. Sivia Capital Partners LLC increased its holdings in Monster Beverage by 247.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,986 shares of the company’s stock worth $813,000 after purchasing an additional 9,251 shares during the period. Cresset Asset Management LLC increased its holdings in Monster Beverage by 23.9% during the 2nd quarter. Cresset Asset Management LLC now owns 6,652 shares of the company’s stock worth $417,000 after purchasing an additional 1,281 shares during the period. Federated Hermes Inc. raised its position in Monster Beverage by 55.9% during the 2nd quarter. Federated Hermes Inc. now owns 4,798 shares of the company’s stock valued at $301,000 after purchasing an additional 1,721 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Monster Beverage by 151.7% in the 2nd quarter. NewEdge Advisors LLC now owns 34,075 shares of the company’s stock worth $2,134,000 after buying an additional 20,538 shares during the period. Institutional investors own 72.36% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Thomas J. Kelly sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $87.81, for a total transaction of $614,670.00. Following the transaction, the chief financial officer directly owned 62,553 shares of the company’s stock, valued at approximately $5,492,778.93. This represents a 10.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark J. Hall sold 54,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.81, for a total value of $4,633,740.00. Following the sale, the director owned 299,246 shares of the company’s stock, valued at approximately $25,678,299.26. This represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 159,700 shares of company stock valued at $13,730,462. 8.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MNST. UBS Group reissued a “neutral” rating and set a $84.00 price target (up from $80.00) on shares of Monster Beverage in a research report on Friday, May 8th. Wall Street Zen downgraded Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. TD Cowen lowered their price objective on shares of Monster Beverage from $88.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 20th. Argus raised their target price on shares of Monster Beverage from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Monster Beverage from $81.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.05.

Monster Beverage Stock Performance

MNST stock opened at $89.55 on Friday. Monster Beverage Corporation has a one year low of $58.09 and a one year high of $90.44. The firm has a market cap of $87.58 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.91 and a beta of 0.54. The firm has a 50-day simple moving average of $80.27 and a two-hundred day simple moving average of $78.60.

Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Monster Beverage had a net margin of 23.11% and a return on equity of 26.86%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Monster Beverage’s revenue was up 22.6% on a year-over-year basis. As a group, equities analysts predict that Monster Beverage Corporation will post 2.31 earnings per share for the current fiscal year.

Monster Beverage announced that its Board of Directors has authorized a stock repurchase program on Friday, May 15th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Monster Beverage Company Profile

Monster Beverage Corporation (NASDAQ: MNST) is an American beverage company best known for its Monster Energy brand of energy drinks. The company’s product portfolio centers on carbonated energy beverages and a range of complementary ready-to-drink offerings, including energy coffees, hydration beverages and other flavored functional drinks. Monster markets multiple sub-brands and flavor variants to address different consumer segments and consumption occasions.

Originally organized around the Hansen’s Natural line of juices and sodas, the company pivoted toward the energy drink category and formally adopted the Monster Beverage name in the early 2010s to reflect its strategic focus.