Connor Clark & Lunn Investment Management Ltd. Sells 20,746 Shares of National Beverage Corp. (NASDAQ:FIZZ)

Connor Clark & Lunn Investment Management Ltd. reduced its position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 41.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

A number of other large investors also recently modified their holdings of the company. Warburton Capital Management LLC bought a new position in shares of National Beverage in the fourth quarter valued at approximately $277,000. Raymond James Financial Inc. bought a new position in shares of National Beverage in the fourth quarter valued at approximately $631,000. Charles Schwab Investment Management Inc. boosted its position in shares of National Beverage by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,658 shares of the company's stock valued at $11,592,000 after acquiring an additional 7,075 shares during the period. Jones Financial Companies Lllp lifted its position in National Beverage by 158.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,387 shares of the company's stock valued at $102,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Denali Advisors LLC lifted its position in National Beverage by 1.8% during the fourth quarter. Denali Advisors LLC now owns 149,620 shares of the company's stock valued at $6,384,000 after purchasing an additional 2,588 shares during the last quarter. 23.95% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Separately, UBS Group dropped their target price on shares of 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 Stock Performance

National Beverage stock traded down $0.67 during mid-day trading on Friday, hitting $39.08. 444,749 shares of the company traded hands, compared to its average volume of 173,089. National Beverage Corp. has a one year low of $38.25 and a one year high of $53.48. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 19.64 and a beta of 0.87. The stock has a fifty day moving average price of $41.01 and a 200-day moving average price of $44.35.

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

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.