Connor Clark & Lunn Investment Management Ltd. Trims Holdings in National Beverage Corp. (NASDAQ:FIZZ)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of National Beverage Corp. (NASDAQ:FIZZ) by 41.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,892 shares of the company’s stock after selling 20,746 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in National Beverage were worth $1,275,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in National Beverage by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 11,547 shares of the company’s stock valued at $528,000 after buying an additional 383 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of National Beverage by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 1,594 shares of the company’s stock valued at $68,000 after acquiring an additional 484 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of National Beverage by 1.5% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 37,256 shares of the company’s stock valued at $1,590,000 after purchasing an additional 564 shares during the period. KBC Group NV grew its stake in National Beverage by 89.3% in the fourth quarter. KBC Group NV now owns 1,357 shares of the company’s stock worth $58,000 after purchasing an additional 640 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in National Beverage by 5.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 12,916 shares of the company’s stock worth $551,000 after purchasing an additional 663 shares during the period. 23.95% of the stock is owned by hedge funds and other institutional investors.

National Beverage Price Performance

Shares of National Beverage stock opened at $40.03 on Thursday. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 20.12 and a beta of 0.87. The firm’s 50-day moving average is $41.16 and its two-hundred day moving average is $44.43. National Beverage Corp. has a 1 year low of $38.25 and a 1 year high of $53.48.

National Beverage (NASDAQ:FIZZ) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $267.05 million for the quarter, compared to the consensus estimate of $282.22 million. National Beverage had a net margin of 15.63% and a return on equity of 42.80%.

Analysts Set New Price Targets

Separately, UBS Group lowered their target price on National Beverage from $46.00 to $41.00 and set a “sell” rating for the company in a report on Thursday, February 27th.

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.