Denali Advisors LLC Sells 23,350 Shares of National Beverage Corp. $FIZZ

Key Points

• Denali Advisors LLC reduced its holdings in National Beverage Corp. by 14.3%, selling 23,350 shares and owning approximately 0.15% of the company, valued at about $6,056,000.
• Earnings results for National Beverage showed that the company reported $0.60 earnings per share, aligning with consensus estimates, but revenue fell short at $330.52 million compared to an expected $354.18 million.
• Analysts have set a target price for the stock at $39.00, with ratings indicating a general sentiment of holding or selling, leading to an average rating of "Reduce".

Denali Advisors LLC decreased its position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 14.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,050 shares of the company's stock after selling 23,350 shares during the period. Denali Advisors LLC owned approximately 0.15% of National Beverage worth $6,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Millennium Management LLC lifted its stake in National Beverage by 485.3% during the 1st quarter. Millennium Management LLC now owns 275,644 shares of the company's stock valued at $11,450,000 after acquiring an additional 228,553 shares during the period. Edgestream Partners L.P. bought a new position in National Beverage during the 1st quarter valued at about $7,302,000. Nuveen LLC bought a new position in National Beverage during the 1st quarter valued at about $2,773,000. Jacobs Levy Equity Management Inc. bought a new position in National Beverage during the 1st quarter valued at about $2,504,000. Finally, Invesco Ltd. lifted its stake in National Beverage by 36.8% during the 1st quarter. Invesco Ltd. now owns 218,300 shares of the company's stock valued at $9,068,000 after acquiring an additional 58,670 shares during the period. Institutional investors own 23.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group lowered their target price on shares of National Beverage from $40.00 to $39.00 and set a "sell" rating on the stock in a research note on Monday, September 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of National Beverage in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $39.00.

National Beverage Trading Up 0.2%

NASDAQ:FIZZ opened at $36.50 on Wednesday. National Beverage Corp. has a twelve month low of $35.66 and a twelve month high of $50.51. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 18.34 and a beta of 0.63. The stock has a fifty day simple moving average of $39.62 and a 200-day simple moving average of $42.97.

National Beverage (NASDAQ:FIZZ - Get Free Report) last released its earnings results on Thursday, September 11th. The company reported $0.60 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 43.51% and a net margin of 15.45%.

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.

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