Kayne Anderson Rudnick Investment Management LLC Cuts Stake in National Beverage Corp. (NASDAQ:FIZZ)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in National Beverage Corp. (NASDAQ:FIZZ) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,682,604 shares of the company’s stock after selling 68,263 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 2.87% of National Beverage worth $137,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new position in shares of National Beverage in the second quarter worth about $31,000. Quest Partners LLC purchased a new position in National Beverage in the 2nd quarter worth approximately $34,000. Headlands Technologies LLC lifted its position in National Beverage by 760.2% in the second quarter. Headlands Technologies LLC now owns 843 shares of the company’s stock valued at $43,000 after purchasing an additional 745 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of National Beverage by 45.0% during the second quarter. GAMMA Investing LLC now owns 1,109 shares of the company’s stock valued at $57,000 after purchasing an additional 344 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of National Beverage by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,773 shares of the company’s stock worth $227,000 after purchasing an additional 330 shares during the last quarter. 23.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

National Beverage Trading Down 0.8 %

National Beverage stock opened at $46.32 on Friday. The firm has a market cap of $4.33 billion, a P/E ratio of 24.51 and a beta of 0.82. National Beverage Corp. has a 1-year low of $42.85 and a 1-year high of $53.58. The firm has a 50-day moving average of $46.86 and a 200-day moving average of $47.33.

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

Insider Buying and Selling

In other news, Director Cecil D. Conlee sold 10,000 shares of National Beverage stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.11, for a total transaction of $501,100.00. Following the sale, the director now owns 56,480 shares of the company’s stock, valued at approximately $2,830,212.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other National Beverage news, Director Cecil D. Conlee sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.11, for a total value of $501,100.00. Following the completion of the sale, the director now directly owns 56,480 shares in the company, valued at $2,830,212.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley Michael Sheridan sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $51.81, for a total value of $828,960.00. Following the transaction, the director now owns 76,508 shares in the company, valued at approximately $3,963,879.48. The disclosure for this sale can be found here. 75.00% of the stock is currently owned by insiders.

National Beverage Company 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.