Investors Purchase Large Volume of National Beverage Put Options (NASDAQ:FIZZ)
National Beverage Corp. (NASDAQ:FIZZ) was the target of some unusual options trading activity on Wednesday. Investors purchased 2,127 put options on the stock. This represents an increase of 1,476% compared to the typical volume of 135 put options.
Several hedge funds have recently bought and sold shares of FIZZ. Bank of America Corp DE boosted its holdings in shares of National Beverage by 319.5% during the 4th quarter. Bank of America Corp DE now owns 23,166 shares of the company’s stock worth $1,662,000 after buying an additional 17,644 shares during the period. Legal & General Group Plc boosted its holdings in shares of National Beverage by 5.3% during the 4th quarter. Legal & General Group Plc now owns 5,025 shares of the company’s stock worth $360,000 after buying an additional 254 shares during the period. Norges Bank bought a new stake in shares of National Beverage during the 4th quarter worth about $327,000. Virtu Financial LLC bought a new stake in shares of National Beverage during the 1st quarter worth about $695,000. Finally, Strs Ohio bought a new stake in shares of National Beverage during the 1st quarter worth about $502,000. 25.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FIZZ stock traded up $0.58 during trading hours on Thursday, hitting $41.56. 56,048 shares of the company’s stock were exchanged, compared to its average volume of 571,033. The stock has a market capitalization of $2.04 billion, a P/E ratio of 13.85, a PEG ratio of 8.63 and a beta of 1.27. National Beverage has a 12-month low of $40.05 and a 12-month high of $127.32. The stock has a 50 day simple moving average of $43.35.
Several equities research analysts have issued reports on FIZZ shares. Imperial Capital reiterated an “outperform” rating and set a $65.00 target price (down from $150.00) on shares of National Beverage in a research report on Monday, July 1st. Maxim Group reiterated a “hold” rating on shares of National Beverage in a research report on Thursday, June 27th. UBS Group upgraded shares of National Beverage from a “sell” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $48.00 in a research report on Tuesday, June 4th. BidaskClub lowered shares of National Beverage from a “sell” rating to a “strong sell” rating in a research report on Friday, July 12th. Finally, Jefferies Financial Group dropped their target price on shares of National Beverage from $34.00 to $33.00 and set an “underperform” rating for the company in a research report on Thursday, June 27th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.88.
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 Cúrate, LaCroix NiCola, Shasta Sparkling Water, the Rip It, Everfresh, Everfresh Premier Varietals, and Mr.
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