UBS Group Lowers National Beverage (NASDAQ:FIZZ) Price Target to $39.00

Key Points

• UBS Group has reduced the price target for National Beverage (NASDAQ:FIZZ) from $40.00 to $39.00, maintaining a "sell" rating, indicating a potential downside of 0.46% from its current price.
• National Beverage reported earnings per share of $0.60 for the last quarter, meeting analyst estimates, but revenue fell short at $330.52 million against expectations of $354.18 million.
• Institutional investors are increasingly active in National Beverage, with notable changes such as Millennium Management raising its stake by 485.3% during the first quarter.

National Beverage (NASDAQ:FIZZ - Get Free Report) had its price objective cut by analysts at UBS Group from $40.00 to $39.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. UBS Group's target price indicates a potential downside of 0.46% from the company's current price.

National Beverage Trading Down 2.9%

Shares of NASDAQ:FIZZ opened at $39.18 on Monday. The stock has a market capitalization of $3.67 billion, a P/E ratio of 19.69 and a beta of 0.72. The business has a 50-day moving average price of $44.49 and a two-hundred day moving average price of $43.69. National Beverage has a 1-year low of $38.25 and a 1-year high of $50.51.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $354.18 million.

Institutional Trading of National Beverage

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of National Beverage during the 2nd quarter worth approximately $10,419,000. Millennium Management LLC raised its stake in shares of National Beverage by 485.3% during the 1st quarter. Millennium Management LLC now owns 275,644 shares of the company's stock worth $11,450,000 after purchasing an additional 228,553 shares during the period. Edgestream Partners L.P. purchased a new stake in National Beverage in the 1st quarter worth about $7,302,000. GAMMA Investing LLC increased its holdings in National Beverage by 5,268.4% in the 1st quarter. GAMMA Investing LLC now owns 85,572 shares of the company's stock worth $3,555,000 after acquiring an additional 83,978 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in National Beverage in the 1st quarter worth about $2,773,000. 23.95% of the stock is currently owned by institutional investors.

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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