Edgestream Partners L.P. Reduces Stock Holdings in National Beverage Corp. $FIZZ

Edgestream Partners L.P. lessened its position in shares of National Beverage Corp. (NASDAQ:FIZZ) by 71.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,756 shares of the company’s stock after selling 126,038 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of National Beverage worth $2,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Schroder Investment Management Group increased its holdings in National Beverage by 2.8% during the 2nd quarter. Schroder Investment Management Group now owns 14,535 shares of the company’s stock valued at $628,000 after acquiring an additional 393 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of National Beverage by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,009 shares of the company’s stock valued at $260,000 after purchasing an additional 408 shares during the last quarter. Covestor Ltd increased its stake in shares of National Beverage by 14.3% during the 1st quarter. Covestor Ltd now owns 3,421 shares of the company’s stock worth $142,000 after purchasing an additional 427 shares in the last quarter. Gabelli Funds LLC raised its position in shares of National Beverage by 1.9% during the 1st quarter. Gabelli Funds LLC now owns 32,500 shares of the company’s stock worth $1,350,000 after purchasing an additional 600 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of National Beverage by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,973 shares of the company’s stock worth $580,000 after purchasing an additional 620 shares during the last quarter. 23.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group dropped their price target on National Beverage from $40.00 to $39.00 and set a “sell” rating for the company in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of National Beverage in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, National Beverage presently has an average rating of “Reduce” and an average target price of $39.00.

National Beverage Price Performance

Shares of FIZZ stock opened at $34.74 on Friday. The firm’s 50-day simple moving average is $34.99 and its 200-day simple moving average is $40.84. National Beverage Corp. has a 1-year low of $32.21 and a 1-year high of $50.51. The firm has a market cap of $3.25 billion, a P/E ratio of 17.46 and a beta of 0.52.

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

About National Beverage

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.