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

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of National Beverage Corp. (NASDAQ:FIZZ) by 41.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FIZZ. Allspring Global Investments Holdings LLC boosted its position in shares of National Beverage by 1,292.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,270 shares of the company’s stock valued at $1,156,000 after acquiring an additional 25,311 shares during the last quarter. Jennison Associates LLC bought a new position in National Beverage during the third quarter valued at $1,126,000. Barclays PLC grew its stake in shares of National Beverage by 389.9% in the 3rd quarter. Barclays PLC now owns 41,810 shares of the company’s stock worth $1,962,000 after buying an additional 33,275 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of National Beverage in the 4th quarter worth $746,000. Finally, Geode Capital Management LLC increased its holdings in shares of National Beverage by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 706,076 shares of the company’s stock worth $33,148,000 after buying an additional 28,688 shares during the last quarter. Hedge funds and other institutional investors own 23.95% of the company’s stock.

National Beverage Stock Performance

NASDAQ FIZZ opened at $40.03 on Thursday. The business’s 50 day moving average price is $41.16 and its 200-day moving average price is $44.43. National Beverage Corp. has a fifty-two week low of $38.25 and a fifty-two week high of $53.48. The company has a market cap of $3.75 billion, a P/E ratio of 20.12 and a beta of 0.87.

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

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price target on National Beverage from $46.00 to $41.00 and set a “sell” rating for the company in a research 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.