VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in National Beverage Corp. $FIZZ

Key Points

• Virginia Retirement Systems ET Al acquired 39,593 shares of National Beverage Corp., valued at approximately $1.712 million, during the 2nd quarter.
• Shareholders have seen varying movements, with Millennium Management LLC increasing its stake by 485.3% in the 1st quarter, now owning over 275,000 shares.
• National Beverage's recent quarterly earnings met expectations at $0.60 earnings per share, though revenue fell short of estimates, coming in at $330.52 million.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of National Beverage Corp. (NASDAQ:FIZZ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,593 shares of the company's stock, valued at approximately $1,712,000.

Several other hedge funds have also recently added to or reduced their stakes in FIZZ. Millennium Management LLC raised 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 in the last quarter. Edgestream Partners L.P. bought a new stake in National Beverage during the 1st quarter valued at $7,302,000. Nuveen LLC bought a new stake in National Beverage during the 1st quarter valued at $2,773,000. Jacobs Levy Equity Management Inc. bought a new stake in National Beverage during the 1st quarter valued at $2,504,000. Finally, Invesco Ltd. raised 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 in the last quarter. Institutional investors own 23.95% of the company's stock.

National Beverage Trading Down 0.6%

Shares of FIZZ stock opened at $36.28 on Thursday. National Beverage Corp. has a 1-year low of $35.66 and a 1-year high of $50.51. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 18.23 and a beta of 0.63. The stock's fifty day simple moving average is $39.41 and its 200-day simple moving average is $42.92.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The company reported $0.60 earnings per share for the quarter, meeting analysts' consensus estimates of $0.60. National Beverage had a return on equity of 43.51% and a net margin of 15.45%.The business had revenue of $330.52 million for the quarter, compared to the consensus estimate of $354.18 million.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of National Beverage in a report on Wednesday, October 8th. UBS Group cut their price objective on National Beverage from $40.00 to $39.00 and set a "sell" rating for the company in a report on Monday, September 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $39.00.

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.

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