CIBC Bancorp USA Inc. Purchases Shares of 299,769 Monster Beverage Corporation $MNST

CIBC Bancorp USA Inc. purchased a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the third quarter, Holdings Channel.com reports. The firm purchased 299,769 shares of the company’s stock, valued at approximately $20,177,000.

Several other large investors also recently modified their holdings of MNST. Armstrong Advisory Group Inc. boosted its stake in Monster Beverage by 49.0% during the third quarter. Armstrong Advisory Group Inc. now owns 444 shares of the company’s stock worth $30,000 after acquiring an additional 146 shares in the last quarter. D.A. Davidson & CO. increased its stake in Monster Beverage by 4.1% in the third quarter. D.A. Davidson & CO. now owns 3,930 shares of the company’s stock valued at $265,000 after purchasing an additional 155 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in Monster Beverage by 3.2% in the third quarter. Premier Path Wealth Partners LLC now owns 5,246 shares of the company’s stock valued at $353,000 after purchasing an additional 161 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Monster Beverage by 13.4% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,490 shares of the company’s stock valued at $93,000 after purchasing an additional 176 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its holdings in shares of Monster Beverage by 1.9% during the third quarter. Meiji Yasuda Life Insurance Co now owns 10,489 shares of the company’s stock valued at $706,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MNST. Zacks Research downgraded Monster Beverage from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. increased 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. Morgan Stanley reissued an “overweight” rating and issued a $96.00 price objective (up from $87.00) on shares of Monster Beverage in a research note on Monday, January 26th. The Goldman Sachs Group boosted their price objective on Monster Beverage from $80.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Finally, Jefferies Financial Group increased their target price on Monster Beverage from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.95.

Monster Beverage Stock Performance

Shares of NASDAQ MNST opened at $74.09 on Thursday. The stock has a market cap of $72.39 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.51 and a beta of 0.44. Monster Beverage Corporation has a fifty-two week low of $54.73 and a fifty-two week high of $87.38. The firm’s 50-day simple moving average is $80.20 and its 200 day simple moving average is $73.73.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Monster Beverage had a return on equity of 27.38% and a net margin of 22.97%.The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the company posted $0.39 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, sell-side analysts predict that Monster Beverage Corporation will post 1.62 EPS for the current year.

Monster Beverage 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.