CIBC Asset Management Inc Raises Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

CIBC Asset Management Inc grew its position in Monster Beverage Co. (NASDAQ:MNST) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,708 shares of the company’s stock after acquiring an additional 3,525 shares during the quarter. CIBC Asset Management Inc’s holdings in Monster Beverage were worth $14,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL increased its holdings in shares of Monster Beverage by 37.0% in the first quarter. Blair William & Co. IL now owns 13,421 shares of the company’s stock valued at $796,000 after purchasing an additional 3,624 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Monster Beverage by 7.2% during the first quarter. Orion Portfolio Solutions LLC now owns 30,752 shares of the company’s stock worth $1,823,000 after acquiring an additional 2,062 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Monster Beverage by 5.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,317 shares of the company’s stock worth $256,000 after acquiring an additional 209 shares during the last quarter. Vanguard Group Inc. increased its stake in Monster Beverage by 1.7% during the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after acquiring an additional 1,059,042 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Monster Beverage during the first quarter worth $763,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Price Performance

NASDAQ MNST opened at $52.00 on Friday. The stock has a market capitalization of $50.57 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.69 and a beta of 0.74. Monster Beverage Co. has a 1 year low of $43.32 and a 1 year high of $61.22. The business’s fifty day moving average is $52.40 and its two-hundred day moving average is $51.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13.

Wall Street Analyst Weigh In

Several research firms have issued reports on MNST. JPMorgan Chase & Co. cut their target price on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. BMO Capital Markets decreased their target price on Monster Beverage from $56.00 to $54.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Roth Mkm decreased their target price on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, August 12th. TD Cowen upped 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. Finally, Bank of America upped their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.45.

Monster Beverage 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.