CIBC Private Wealth Group LLC Sells 67,047 Shares of Monster Beverage Corporation $MNST

CIBC Private Wealth Group LLC reduced its position in shares of Monster Beverage Corporation (NASDAQ:MNST) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,036,540 shares of the company’s stock after selling 67,047 shares during the period. CIBC Private Wealth Group LLC owned 0.52% of Monster Beverage worth $339,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MNST. CIBC Bancorp USA Inc. bought a new position in shares of Monster Beverage in the third quarter worth about $20,177,000. Caerus Investment Advisors LLC bought a new stake in Monster Beverage during the 3rd quarter valued at approximately $419,000. Coldstream Capital Management Inc. boosted its stake in Monster Beverage by 1.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 19,817 shares of the company’s stock valued at $1,334,000 after purchasing an additional 265 shares during the period. Danske Bank A S acquired a new stake in Monster Beverage in the 3rd quarter valued at approximately $26,086,000. Finally, Advisory Services Network LLC grew its holdings in Monster Beverage by 1.6% in the 3rd quarter. Advisory Services Network LLC now owns 34,487 shares of the company’s stock valued at $2,321,000 after buying an additional 542 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Monster Beverage from $79.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Zacks Research downgraded shares of Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $96.00 target price (up from $87.00) on shares of Monster Beverage in a research report on Monday, January 26th. Piper Sandler upped their target price on shares of Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Wall Street Zen downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Monster Beverage presently has a consensus rating of “Moderate Buy” and an average target price of $83.95.

Monster Beverage Stock Up 0.7%

Shares of MNST opened at $77.59 on Wednesday. The company has a 50-day moving average price of $80.24 and a two-hundred day moving average price of $73.73. The stock has a market cap of $75.81 billion, a price-to-earnings ratio of 39.99, a P/E/G ratio of 2.49 and a beta of 0.44. Monster Beverage Corporation has a 12 month low of $54.73 and a 12 month high of $87.38.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 17.6% compared to the same quarter last year. Equities research analysts expect that Monster Beverage Corporation will post 1.62 EPS for the current fiscal year.

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.