Walleye Capital LLC Makes New $475,000 Investment 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 stake in shares of National Beverage Corp. (NASDAQ:FIZZ - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,424 shares of the company's stock, valued at approximately $475,000.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake 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 valued at $8,917,000 after buying an additional 13,053 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of National Beverage during the first quarter worth approximately $7,302,000. Vanguard Group Inc. lifted its stake in shares of National Beverage by 2.0% during the first 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 period. GAMMA Investing LLC boosted its stake in shares of National Beverage by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 2,060 shares of the company's stock valued at $86,000 after purchasing an additional 466 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of National Beverage by 36.8% in the 1st quarter. Invesco Ltd. now owns 218,300 shares of the company's stock valued at $9,068,000 after purchasing an additional 58,670 shares during the period. 23.95% of the stock is owned by institutional investors and hedge funds.

National Beverage Trading Down 3.2%

Shares of National Beverage stock traded down $1.32 on Friday, reaching $40.01. 266,093 shares of the company were exchanged, compared to its average volume of 158,778. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 20.01 and a beta of 0.72. National Beverage Corp. has a one year low of $38.25 and a one year high of $50.51. The company has a 50-day moving average of $45.07 and a 200 day moving average of $43.67.

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

Analyst Ratings Changes

Separately, UBS Group decreased their target price on National Beverage from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Friday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, National Beverage currently has a consensus 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.