Walleye Capital LLC Acquires New Shares in National Beverage Corp. $FIZZ

Key Points

• Walleye Capital LLC has acquired a new position in National Beverage Corp., purchasing 11,424 shares valued at approximately $475,000 during the first quarter.
• Analysts have set a new price target for National Beverage, increasing it from $42.00 to $45.00, while maintaining a "sell" rating.
• National Beverage reported $0.48 EPS for the last quarter, meeting consensus estimates, with a revenue of $313.63 million, exceeding expectations of $303.26 million.

Walleye Capital LLC acquired a new position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,424 shares of the company's stock, valued at approximately $475,000.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in National Beverage by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 214,656 shares of the company's stock worth $8,917,000 after purchasing an additional 13,053 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of National Beverage during the 1st quarter valued at $7,302,000. Vanguard Group Inc. raised its position in shares of National Beverage by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 2,801,900 shares of the company's stock valued at $116,391,000 after acquiring an additional 54,148 shares during the last quarter. GAMMA Investing LLC raised its position in shares of National Beverage by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 2,060 shares of the company's stock valued at $86,000 after acquiring an additional 466 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of 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 last quarter. Institutional investors own 23.95% of the company's stock.

National Beverage Stock Down 3.2%

Shares of FIZZ traded down $1.32 during trading hours on Friday, reaching $40.01. The stock had a trading volume of 266,093 shares, compared to its average volume of 165,710. National Beverage Corp. has a 52 week low of $38.25 and a 52 week high of $50.51. The firm has a 50-day moving average of $45.07 and a 200 day moving average of $43.73. The company has a market cap of $3.75 billion, a P/E ratio of 20.01 and a beta of 0.72.

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

Analyst Ratings Changes

Separately, UBS Group dropped their target price 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. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell" and an average target price 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.