Connor Clark & Lunn Investment Management Ltd. Trims Stake in National Beverage Corp. $FIZZ

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in National Beverage Corp. by 82.2% during the first quarter, leaving it with 5,327 shares valued at approximately $221,000.
• Other institutional investors such as Golden State Wealth Management and Parallel Advisors also adjusted their positions, with some increasing their holdings in National Beverage by over 300%.
• The stock of National Beverage opened at $44.37, with a recent price target set by UBS Group at $45.00 and a consensus rating of "Sell".

Connor Clark & Lunn Investment Management Ltd. reduced its position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 82.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,327 shares of the company's stock after selling 24,565 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in National Beverage were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FIZZ. Golden State Wealth Management LLC lifted its holdings in shares of National Beverage by 102.4% in the 1st quarter. Golden State Wealth Management LLC now owns 830 shares of the company's stock valued at $34,000 after purchasing an additional 420 shares during the last quarter. Lazard Asset Management LLC acquired a new position in National Beverage in the 4th quarter valued at about $52,000. Parallel Advisors LLC increased its position in National Beverage by 307.6% in the 1st quarter. Parallel Advisors LLC now owns 1,333 shares of the company's stock valued at $55,000 after acquiring an additional 1,006 shares during the period. Tower Research Capital LLC TRC increased its position in National Beverage by 38.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,499 shares of the company's stock valued at $64,000 after acquiring an additional 415 shares during the period. Finally, CWM LLC increased its position in National Beverage by 87.3% in the 1st quarter. CWM LLC now owns 1,549 shares of the company's stock valued at $64,000 after acquiring an additional 722 shares during the period. 23.95% of the stock is owned by hedge funds and other institutional investors.

National Beverage Stock Down 0.2%

Shares of FIZZ stock opened at $44.37 on Thursday. The stock's 50-day moving average price is $45.37 and its 200 day moving average price is $43.46. 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 $4.15 billion, a PE ratio of 22.19 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

Separately, UBS Group boosted their price target on National Beverage from $42.00 to $45.00 and gave the company a "sell" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, National Beverage presently has an average rating of "Sell" and a consensus target price of $45.00.

National Beverage 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.

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