National Beverage Corp. $FIZZ Shares Sold by Connor Clark & Lunn Investment Management Ltd.

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. decreased its position in shares of National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 82.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of National Beverage by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 214,656 shares of the company's stock valued at $8,917,000 after purchasing an additional 13,053 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of National Beverage in the 1st quarter valued at $7,302,000. Vanguard Group Inc. boosted its holdings in shares of National Beverage by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 2,801,900 shares of the company's stock valued at $116,391,000 after purchasing an additional 54,148 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of National Beverage by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 2,060 shares of the company's stock valued at $86,000 after purchasing an additional 466 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of National Beverage by 55.9% in the 4th quarter. Deutsche Bank AG now owns 23,248 shares of the company's stock valued at $992,000 after purchasing an additional 8,332 shares during the last quarter. Institutional investors and hedge funds own 23.95% of the company's stock.

National Beverage Stock Down 2.1%

Shares of FIZZ stock traded down $0.91 during mid-day trading on Tuesday, reaching $42.46. The company's stock had a trading volume of 225,682 shares, compared to its average volume of 153,517. The company's 50 day simple moving average is $45.34 and its 200-day simple moving average is $43.59. National Beverage Corp. has a 12-month low of $38.25 and a 12-month high of $50.51. The firm has a market capitalization of $3.98 billion, a PE ratio of 21.23 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

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

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.