Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in National Beverage Corp. $FIZZ

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of National Beverage Corp. (NASDAQ:FIZZ) by 86.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,958 shares of the company’s stock after buying an additional 4,631 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in National Beverage were worth $431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of National Beverage by 136.7% in the second quarter. Signaturefd LLC now owns 1,375 shares of the company’s stock worth $59,000 after acquiring an additional 794 shares during the period. CWM LLC boosted its position in National Beverage by 87.3% in the first quarter. CWM LLC now owns 1,549 shares of the company’s stock worth $64,000 after purchasing an additional 722 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of National Beverage by 73.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,317 shares of the company’s stock valued at $100,000 after purchasing an additional 984 shares during the period. Covestor Ltd increased its position in shares of National Beverage by 14.3% during the 1st quarter. Covestor Ltd now owns 3,421 shares of the company’s stock valued at $142,000 after purchasing an additional 427 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of National Beverage by 742.8% in the 1st quarter. US Bancorp DE now owns 4,315 shares of the company’s stock worth $179,000 after purchasing an additional 3,803 shares during the period. 23.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of National Beverage from $40.00 to $39.00 and set a “sell” rating on the stock in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of National Beverage in a research note on Friday, October 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $39.00.

National Beverage Trading Up 1.2%

National Beverage stock opened at $33.54 on Friday. National Beverage Corp. has a 12-month low of $32.21 and a 12-month high of $50.51. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 16.85 and a beta of 0.68. The firm has a 50 day moving average of $35.68 and a 200 day moving average of $41.49.

National Beverage (NASDAQ:FIZZ) last issued its quarterly earnings results on Thursday, September 11th. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $330.52 million for the quarter, compared to the consensus estimate of $354.18 million. National Beverage had a net margin of 15.45% and a return on equity of 43.51%.

National Beverage Company Profile

National Beverage Corp., through its subsidiaries, develops, produces, markets, and sells a portfolio of sparkling waters, juices, energy drinks, and carbonated soft drinks primarily in the United States and Canada. The company's Power+ brand portfolio offers sparkling water products under the LaCroix, LaCroix Cúrate, and LaCroix NiCola; non-carbonated flavored water under the Clear Fruit; energy drink and shots under the Rip It; juice and juice-based products under Everfresh, Everfresh Premier Varietals, and Mr.