PDT Partners LLC Has $1.38 Million Position in National Beverage Corp. $FIZZ

Key Points

• PDT Partners LLC significantly increased its stake in National Beverage Corp. by 436.6%, acquiring an additional 26,985 shares in the first quarter, with total holdings valued at approximately $1.38 million.
• National Beverage reported earnings of $0.48 EPS for the last quarter, meeting consensus estimates, and generated revenue of $313.63 million, surpassing analysts' expectations.
• UBS Group raised their price target for National Beverage from $42.00 to $45.00, maintaining a "sell" rating amid a current consensus rating of "sell" among analysts.

PDT Partners LLC increased its position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 436.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,166 shares of the company's stock after buying an additional 26,985 shares during the quarter. PDT Partners LLC's holdings in National Beverage were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of National Beverage in the first quarter valued at approximately $1,092,000. Royal Bank of Canada increased its stake in shares of 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 buying an additional 1,363 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of National Beverage in the first quarter valued at approximately $1,352,000. Ieq Capital LLC acquired a new position in shares of National Beverage in the first quarter valued at approximately $256,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of National Beverage by 45.2% in the first quarter. Gamco Investors INC. ET AL now owns 74,228 shares of the company's stock valued at $3,083,000 after buying an additional 23,100 shares during the period. Institutional investors and hedge funds own 23.95% of the company's stock.

National Beverage Trading Down 3.2%

FIZZ stock traded down $1.32 during trading on Friday, hitting $40.01. The company had a trading volume of 266,093 shares, compared to its average volume of 158,778. The business has a 50-day moving average of $45.07 and a 200-day moving average of $43.70. National Beverage Corp. has a one year low of $38.25 and a one year high of $50.51. The stock has a market cap of $3.75 billion, a PE ratio of 20.01 and a beta of 0.72.

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

Analyst Upgrades and Downgrades

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

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.