Investors Buy Large Volume of Put Options on National Beverage (NASDAQ:FIZZ)

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National Beverage Corp. (NASDAQ:FIZZ) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 4,619 put options on the stock. This is an increase of 1,216% compared to the average volume of 351 put options.

Several research firms have recently weighed in on FIZZ. Cfra downgraded National Beverage from a “buy” rating to a “hold” rating in a research note on Tuesday. Maxim Group raised National Beverage from a “sell” rating to a “hold” rating and set a $46.15 price target on the stock in a report on Monday, June 3rd. Guggenheim cut National Beverage from a “neutral” rating to a “sell” rating and lowered their price target for the company from $72.00 to $45.00 in a report on Friday, March 8th. BidaskClub raised National Beverage from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Jefferies Financial Group began coverage on National Beverage in a report on Tuesday, May 14th. They set an “underperform” rating and a $45.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. National Beverage has an average rating of “Hold” and an average price target of $75.36.

In other National Beverage news, President Joseph G. Caporella purchased 6,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $59.95 per share, with a total value of $359,700.00. Following the completion of the purchase, the president now owns 413,600 shares in the company, valued at $24,795,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 75.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of National Beverage by 7.2% in the first quarter. Renaissance Technologies LLC now owns 2,483,500 shares of the company’s stock worth $143,372,000 after buying an additional 166,600 shares in the last quarter. Man Group plc raised its position in National Beverage by 82.5% during the first quarter. Man Group plc now owns 353,855 shares of the company’s stock valued at $20,429,000 after purchasing an additional 159,957 shares during the period. Millennium Management LLC purchased a new stake in National Beverage during the fourth quarter valued at approximately $8,809,000. GMT Capital Corp purchased a new stake in shares of National Beverage in the first quarter worth approximately $4,820,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of National Beverage by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 449,844 shares of the company’s stock worth $25,968,000 after buying an additional 82,471 shares during the period. 24.81% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:FIZZ opened at $45.15 on Wednesday. National Beverage has a 52-week low of $42.49 and a 52-week high of $127.32. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 8.34 and a beta of 1.41.

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About National Beverage

National Beverage Corp., through its subsidiaries, develops, produces, markets, and sells a portfolio of waters, juices, energy drinks, and carbonated soft drinks primarily in the United States and Canada. The company offers beverages to the active and health-conscious consumers, including sparkling waters, energy drinks, and juices under the LaCroix, LaCroix C├║rate, LaCroix NiCola, Shasta Sparkling Water, the Rip It, Everfresh, Everfresh Premier Varietals, and Mr.

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