Algert Global LLC Boosts Stake in National Beverage Corp. (NASDAQ:FIZZ)

Algert Global LLC lifted its stake in shares of National Beverage Corp. (NASDAQ:FIZZ) by 69.3% in the third quarter, HoldingsChannel reports. The fund owned 102,098 shares of the company’s stock after acquiring an additional 41,777 shares during the period. Algert Global LLC’s holdings in National Beverage were worth $4,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FIZZ. Assenagon Asset Management S.A. boosted its position in shares of National Beverage by 84.9% in the third quarter. Assenagon Asset Management S.A. now owns 145,172 shares of the company’s stock worth $6,814,000 after purchasing an additional 66,661 shares during the period. Dimensional Fund Advisors LP lifted its holdings in National Beverage by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,145,227 shares of the company’s stock worth $58,680,000 after purchasing an additional 40,488 shares in the last quarter. Denali Advisors LLC boosted its stake in National Beverage by 36.1% in the 2nd quarter. Denali Advisors LLC now owns 115,100 shares of the company’s stock worth $5,898,000 after purchasing an additional 30,500 shares during the period. Squarepoint Ops LLC grew its holdings in National Beverage by 307.6% during the 2nd quarter. Squarepoint Ops LLC now owns 35,673 shares of the company’s stock valued at $1,828,000 after buying an additional 26,920 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of National Beverage by 13.7% during the second quarter. Envestnet Asset Management Inc. now owns 221,247 shares of the company’s stock valued at $11,337,000 after buying an additional 26,729 shares during the last quarter. 23.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group dropped their price target on National Beverage from $46.00 to $45.00 and set a “sell” rating for the company in a research note on Tuesday, September 10th.

National Beverage Stock Performance

NASDAQ:FIZZ opened at $47.87 on Monday. National Beverage Corp. has a fifty-two week low of $42.85 and a fifty-two week high of $53.58. The company’s 50-day simple moving average is $46.53 and its 200-day simple moving average is $47.18. The stock has a market capitalization of $4.48 billion, a P/E ratio of 24.30 and a beta of 0.83.

National Beverage (NASDAQ:FIZZ) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. National Beverage had a net margin of 15.36% and a return on equity of 39.91%. The company had revenue of $329.47 million during the quarter.

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.