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

CIBC Private Wealth Group LLC lessened its position in Monster Beverage Corporation (NASDAQ:MNST) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 5,036,540 shares of the company’s stock after selling 67,047 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Monster Beverage were worth $339,010,000 at the end of the most recent reporting period.

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

Monster Beverage Price Performance

MNST stock opened at $77.59 on Wednesday. The company has a 50 day moving average price of $80.24 and a 200 day moving average price of $73.73. Monster Beverage Corporation has a fifty-two week low of $54.73 and a fifty-two week high of $87.38. The stock has a market capitalization of $75.81 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 2.49 and a beta of 0.44.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on MNST shares. TD Cowen increased their price target on Monster Beverage from $80.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Piper Sandler lifted their price objective on Monster Beverage from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Citigroup boosted their price objective on Monster Beverage from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wells Fargo & Company decreased their target price on Monster Beverage from $94.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Jefferies Financial Group raised their target price on Monster Beverage from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Fourteen equities research 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.95.

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.