Goldman Sachs Group Inc. Sells 33,695 Shares of National Beverage Corp. $FIZZ

Key Points

• Goldman Sachs Group Inc. reduced its stake in National Beverage Corp. by 14.6%, selling 33,695 shares to end the first quarter with 196,748 shares valued at approximately $8.17 million.
• National Beverage Corp.'s stock is currently down 2.9%, with a recent market cap of $3.67 billion and a current stock price of $39.18.
• Analyst sentiment is cautious, with UBS lowering its price target from $45.00 to $40.00 and assigning a sell rating to the stock.

Goldman Sachs Group Inc. cut its stake in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,748 shares of the company's stock after selling 33,695 shares during the period. Goldman Sachs Group Inc. owned about 0.21% of National Beverage worth $8,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of National Beverage by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,801,900 shares of the company's stock worth $116,391,000 after purchasing an additional 54,148 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of National Beverage by 1.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,591,933 shares of the company's stock worth $107,669,000 after purchasing an additional 26,291 shares during the last quarter. Northern Trust Corp grew its holdings in shares of National Beverage by 10.6% in the fourth quarter. Northern Trust Corp now owns 295,028 shares of the company's stock worth $12,589,000 after purchasing an additional 28,186 shares during the last quarter. Millennium Management LLC grew its holdings in National Beverage by 485.3% during the 1st quarter. Millennium Management LLC now owns 275,644 shares of the company's stock worth $11,450,000 after acquiring an additional 228,553 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in National Beverage by 36.8% during the 1st quarter. Invesco Ltd. now owns 218,300 shares of the company's stock worth $9,068,000 after acquiring an additional 58,670 shares in the last quarter. 23.95% of the stock is currently owned by institutional investors.

National Beverage Stock Down 2.9%

Shares of National Beverage stock opened at $39.18 on Friday. The firm has a market capitalization of $3.67 billion, a P/E ratio of 19.69 and a beta of 0.72. The company has a 50 day moving average price of $44.49 and a 200 day moving average price of $43.66. National Beverage Corp. has a 52 week low of $38.25 and a 52 week high of $50.51.

National Beverage (NASDAQ:FIZZ - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. National Beverage had a net margin of 15.45% and a return on equity of 46.30%. The firm had revenue of $330.52 million during the quarter, compared to analyst estimates of $354.18 million.

Analyst Ratings Changes

Separately, UBS Group decreased their price target on shares of National Beverage from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Friday, September 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell" and an average target price of $40.00.

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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