Cibc World Markets Corp Cuts Stock Holdings in Monster Beverage Co. (NASDAQ:MNST)

Cibc World Markets Corp decreased its position in shares of Monster Beverage Co. (NASDAQ:MNST) by 5.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 378,905 shares of the company’s stock after selling 22,496 shares during the period. Cibc World Markets Corp’s holdings in Monster Beverage were worth $21,829,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MNST. Atria Wealth Solutions Inc. grew its holdings in shares of Monster Beverage by 7.2% during the third quarter. Atria Wealth Solutions Inc. now owns 22,521 shares of the company’s stock valued at $1,192,000 after buying an additional 1,521 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Monster Beverage by 0.5% during the third quarter. Sequoia Financial Advisors LLC now owns 43,716 shares of the company’s stock valued at $2,315,000 after purchasing an additional 215 shares during the period. Van ECK Associates Corp lifted its position in Monster Beverage by 3.4% during the third quarter. Van ECK Associates Corp now owns 107,096 shares of the company’s stock valued at $5,671,000 after purchasing an additional 3,567 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Monster Beverage by 5.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 74,445 shares of the company’s stock valued at $3,942,000 after purchasing an additional 3,597 shares during the period. Finally, Tealwood Asset Management Inc. lifted its position in Monster Beverage by 1.8% during the third quarter. Tealwood Asset Management Inc. now owns 28,714 shares of the company’s stock valued at $1,520,000 after purchasing an additional 507 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analyst Upgrades and Downgrades

MNST has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and lowered their price objective for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. BMO Capital Markets lowered their price objective on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. downgraded shares of Monster Beverage from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $59.00 in a research report on Thursday, April 25th. Finally, HSBC decreased their price target on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $61.32.

Monster Beverage Trading Down 0.4 %

MNST traded down $0.19 during trading on Wednesday, hitting $52.00. 36,709,214 shares of the company traded hands, compared to its average volume of 6,680,700. The company has a market cap of $54.17 billion, a PE ratio of 32.70, a P/E/G ratio of 2.18 and a beta of 0.76. The stock’s 50-day simple moving average is $54.21 and its two-hundred day simple moving average is $55.89. Monster Beverage Co. has a 1 year low of $47.13 and a 1 year high of $61.22.

Monster Beverage (NASDAQ:MNST) last posted its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. Equities analysts expect that Monster Beverage Co. will post 1.77 EPS for the current year.

About Monster Beverage

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.