Pinnacle Associates Ltd. Trims Stake in National Beverage Corp. (FIZZ)
Pinnacle Associates Ltd. cut its holdings in National Beverage Corp. (NASDAQ:FIZZ) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,845 shares of the company’s stock after selling 550 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.20% of National Beverage worth $11,517,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of FIZZ. Vanguard Group Inc. grew its position in National Beverage by 20.3% during the second quarter. Vanguard Group Inc. now owns 1,095,263 shares of the company’s stock valued at $102,472,000 after purchasing an additional 184,592 shares in the last quarter. FMR LLC raised its stake in shares of National Beverage by 20.0% in the second quarter. FMR LLC now owns 940,821 shares of the company’s stock worth $88,023,000 after purchasing an additional 156,515 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of National Beverage by 14.4% in the second quarter. Renaissance Technologies LLC now owns 645,000 shares of the company’s stock worth $60,346,000 after purchasing an additional 81,000 shares during the last quarter. Wells Fargo & Company MN increased its position in National Beverage by 2,488.3% during the second quarter. Wells Fargo & Company MN now owns 466,907 shares of the company’s stock valued at $43,684,000 after acquiring an additional 448,868 shares during the last quarter. Finally, State Street Corp raised its stake in National Beverage by 4.6% in the 2nd quarter. State Street Corp now owns 236,052 shares of the company’s stock worth $22,081,000 after acquiring an additional 10,443 shares during the last quarter. 21.40% of the stock is owned by institutional investors and hedge funds.
Shares of National Beverage Corp. (NASDAQ FIZZ) opened at $109.12 on Friday. National Beverage Corp. has a 1-year low of $45.40 and a 1-year high of $129.82. The company has a market capitalization of $5,140.00, a price-to-earnings ratio of 42.16 and a beta of 0.50.
FIZZ has been the subject of several research analyst reports. Maxim Group reiterated a “sell” rating and set a $40.00 target price (up from $33.00) on shares of National Beverage in a research note on Friday, September 8th. Susquehanna Bancshares started coverage on National Beverage in a research report on Tuesday, October 3rd. They issued a “neutral” rating and a $135.00 price target for the company. Finally, UBS raised National Beverage from a “neutral” rating to a “positive” rating in a research report on Monday, November 20th.
National Beverage Profile
National Beverage Corp. is a holding company. The Company develops, produces, markets and sells a diverse portfolio of flavored beverage products primarily in North America. The Company’s brands consist of beverages geared to the active and health-conscious consumer (Power+ Brands), including sparkling waters, energy drinks and juices, and carbonated soft drinks in a range of flavors, including regular, sugar-free and reduced calorie options.
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