National Beverage Corp. (NASDAQ:FIZZ) Shares Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in National Beverage Corp. by 119.0% in Q1, holding 33,500 shares valued at approximately $1.39 million.
• Other hedge funds, including Golden State Wealth Management and Parallel Advisors, also significantly boosted their positions in National Beverage.
• UBS Group upgraded National Beverage's price target from $42.00 to $45.00, maintaining a "sell" rating for the stock.

Alberta Investment Management Corp boosted its holdings in shares of National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 119.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,500 shares of the company's stock after purchasing an additional 18,200 shares during the quarter. Alberta Investment Management Corp's holdings in National Beverage were worth $1,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE grew its holdings in shares of National Beverage by 742.8% in the first quarter. US Bancorp DE now owns 4,315 shares of the company's stock valued at $179,000 after purchasing an additional 3,803 shares in the last quarter. XTX Topco Ltd bought a new stake in National Beverage in the first quarter worth about $315,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of National Beverage during the first quarter worth $392,000. Gallacher Capital Management LLC bought a new stake in shares of National Beverage during the first quarter worth $228,000. Finally, Denali Advisors LLC grew its position in shares of National Beverage by 9.2% during the 1st quarter. Denali Advisors LLC now owns 163,400 shares of the company's stock worth $6,788,000 after buying an additional 13,780 shares in the last quarter. Institutional investors own 23.95% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group upped their price objective on National Beverage from $42.00 to $45.00 and gave the stock a "sell" rating in a research note on Monday, July 7th.

National Beverage Price Performance

National Beverage stock traded down $0.61 during midday trading on Tuesday, reaching $46.39. The company's stock had a trading volume of 147,925 shares, compared to its average volume of 169,587. The stock's 50-day simple moving average is $45.39 and its 200-day simple moving average is $43.22. National Beverage Corp. has a 52-week low of $38.25 and a 52-week high of $50.51. The stock has a market capitalization of $4.34 billion, a P/E ratio of 23.20 and a beta of 0.82.

National Beverage (NASDAQ:FIZZ - Get Free Report) last posted its earnings results on Wednesday, July 2nd. The company reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $313.63 million for the quarter, compared to analyst estimates of $303.26 million. National Beverage had a return on equity of 49.48% and a net margin of 15.55%. During the same period last year, the company earned $0.47 earnings per share.

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.