Cibc World Market Inc. Has $13.59 Million Stock Position in Monster Beverage Corporation $MNST

Cibc World Market Inc. raised its holdings in shares of Monster Beverage Corporation (NASDAQ:MNST) by 293.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,872 shares of the company’s stock after purchasing an additional 150,568 shares during the period. Cibc World Market Inc.’s holdings in Monster Beverage were worth $13,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Monster Beverage during the second quarter worth approximately $544,584,000. Schroder Investment Management Group grew its holdings in Monster Beverage by 4,877.8% during the 2nd quarter. Schroder Investment Management Group now owns 7,283,879 shares of the company’s stock worth $456,262,000 after acquiring an additional 7,137,552 shares during the period. AQR Capital Management LLC raised its position in shares of Monster Beverage by 467.0% during the 2nd quarter. AQR Capital Management LLC now owns 6,849,036 shares of the company’s stock valued at $422,996,000 after acquiring an additional 5,641,160 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Monster Beverage during the 2nd quarter valued at $157,063,000. Finally, Marshall Wace LLP boosted its position in shares of Monster Beverage by 1,126.9% in the 2nd quarter. Marshall Wace LLP now owns 2,121,758 shares of the company’s stock worth $132,907,000 after purchasing an additional 1,948,827 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MNST. Royal Bank Of Canada reiterated an “outperform” rating and issued a $81.00 price objective (up previously from $75.00) on shares of Monster Beverage in a report on Monday, December 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $73.00 price target (up from $53.00) on shares of Monster Beverage in a research note on Wednesday, December 3rd. BNP Paribas Exane upgraded shares of Monster Beverage from an “underperform” rating to a “neutral” rating and set a $77.00 price target on the stock in a research report on Friday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of Monster Beverage from $75.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Bank of America upped their target price on shares of Monster Beverage from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Fourteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.90.

Insiders Place Their Bets

In other Monster Beverage news, insider Emelie Tirre sold 30,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $73.31, for a total transaction of $2,199,300.00. Following the completion of the transaction, the insider owned 63,939 shares in the company, valued at approximately $4,687,368.09. This represents a 31.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rodney C. Sacks sold 206,543 shares of Monster Beverage stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $73.58, for a total value of $15,197,433.94. The SEC filing for this sale provides additional information. 8.30% of the stock is currently owned by corporate insiders.

Monster Beverage Stock Up 0.5%

Monster Beverage stock opened at $81.17 on Friday. The company has a 50 day moving average of $78.02 and a 200-day moving average of $70.65. Monster Beverage Corporation has a twelve month low of $48.39 and a twelve month high of $83.24. The stock has a market capitalization of $79.30 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45.

About Monster Beverage

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.