Assenagon Asset Management S.A. Acquires 15,875 Shares of National Beverage Corp. $FIZZ

Key Points

• Assenagon Asset Management S.A. increased its holdings in National Beverage Corp. by 278.6% in the 2nd quarter, acquiring an additional 15,875 shares for a total of 21,574 shares valued at approximately $933,000.
• UBS Group downgraded its price target for National Beverage from $40.00 to $39.00 and assigned a "sell" rating, reflecting negative sentiment in the market based on analyst ratings.
• National Beverage Corp. reported earnings of $0.60 per share for the last quarter, meeting analysts' expectations, but its revenue fell short of estimates at $330.52 million compared to the predicted $354.18 million.

Assenagon Asset Management S.A. boosted its position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 278.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,574 shares of the company's stock after purchasing an additional 15,875 shares during the period. Assenagon Asset Management S.A.'s holdings in National Beverage were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in shares of National Beverage by 4.3% during the second quarter. Exchange Traded Concepts LLC now owns 46,233 shares of the company's stock worth $1,999,000 after acquiring an additional 1,905 shares during the period. Parallel Advisors LLC increased its holdings in National Beverage by 73.8% during the second quarter. Parallel Advisors LLC now owns 2,317 shares of the company's stock valued at $100,000 after buying an additional 984 shares during the period. Voya Investment Management LLC increased its holdings in National Beverage by 20.4% during the first quarter. Voya Investment Management LLC now owns 13,913 shares of the company's stock valued at $578,000 after buying an additional 2,355 shares during the period. Jane Street Group LLC grew its holdings in National Beverage by 12,294.9% in the first quarter. Jane Street Group LLC now owns 48,292 shares of the company's stock worth $2,006,000 after purchasing an additional 48,688 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in National Beverage by 485.3% in the first quarter. Millennium Management LLC now owns 275,644 shares of the company's stock worth $11,450,000 after purchasing an additional 228,553 shares during the last quarter. Institutional investors own 23.95% of the company's stock.

Analysts Set New Price Targets

Separately, UBS Group cut their price target 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. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell" and a consensus price target of $39.00.

National Beverage Stock Performance

Shares of National Beverage stock opened at $37.09 on Friday. The firm has a 50-day simple moving average of $42.93 and a two-hundred day simple moving average of $43.44. The company has a market cap of $3.47 billion, a P/E ratio of 18.64 and a beta of 0.72. National Beverage Corp. has a fifty-two week low of $36.27 and a fifty-two week high of $50.51.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The company reported $0.60 earnings per share for the quarter, hitting analysts' consensus estimates of $0.60. The business had revenue of $330.52 million during 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%.

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.

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