60,279 Shares in National Beverage Corp. $FIZZ Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. bought 60,279 shares of National Beverage Corp. for approximately $2.5 million, representing a 0.06% ownership stake in the company as of the latest SEC filing.
• National Beverage's stock fell 1.1%, with shares trading at $39.30 and a market capitalization of $3.68 billion.
• UBS Group downgraded National Beverage's price target from $45.00 to $40.00 and assigned a "sell" rating based on a consensus among analysts, which suggests decreasing confidence in the stock's performance.

Jacobs Levy Equity Management Inc. purchased a new position in shares of National Beverage Corp. (NASDAQ:FIZZ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 60,279 shares of the company's stock, valued at approximately $2,504,000. Jacobs Levy Equity Management Inc. owned approximately 0.06% of National Beverage as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in National Beverage by 33.5% during the first quarter. AQR Capital Management LLC now owns 19,886 shares of the company's stock worth $826,000 after purchasing an additional 4,990 shares during the period. EP Wealth Advisors LLC bought a new position in shares of National Beverage in the first quarter worth $279,000. PDT Partners LLC grew its position in National Beverage by 436.6% in the first quarter. PDT Partners LLC now owns 33,166 shares of the company's stock valued at $1,378,000 after acquiring an additional 26,985 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in National Beverage in the first quarter valued at about $1,092,000. Finally, Royal Bank of Canada grew its position in National Beverage by 8.1% in the first quarter. Royal Bank of Canada now owns 18,266 shares of the company's stock valued at $758,000 after acquiring an additional 1,363 shares during the last quarter. 23.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut their price objective on National Beverage from $45.00 to $40.00 and set a "sell" rating on the stock in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell" and an average target price of $40.00.

National Beverage Price Performance

Shares of NASDAQ:FIZZ traded down $1.17 on Friday, hitting $39.18. The company's stock had a trading volume of 337,277 shares, compared to its average volume of 191,036. The company has a 50-day simple moving average of $44.49 and a 200 day simple moving average of $43.64. National Beverage Corp. has a 1 year low of $38.25 and a 1 year high of $50.51. The company has a market capitalization of $3.67 billion, a PE ratio of 19.69 and a beta of 0.72.

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

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.