Bank of New York Mellon Corp raised its stake in shares of National Beverage Corp. (NASDAQ:FIZZ) by 7.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,725 shares of the company’s stock after buying an additional 8,612 shares during the quarter. Bank of New York Mellon Corp owned about 0.28% of National Beverage worth $13,760,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of FIZZ. Macquarie Group Ltd. purchased a new position in National Beverage during the 2nd quarter valued at about $32,123,000. Renaissance Technologies LLC boosted its position in shares of National Beverage by 9.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,784,900 shares of the company’s stock valued at $190,806,000 after acquiring an additional 154,000 shares during the last quarter. FMR LLC bought a new stake in shares of National Beverage during the 2nd quarter valued at about $15,602,000. Trexquant Investment LP bought a new stake in shares of National Beverage during the 2nd quarter valued at about $2,220,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of National Beverage by 17.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 92,362 shares of the company’s stock valued at $9,874,000 after acquiring an additional 13,877 shares during the last quarter. 23.87% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. Susquehanna Bancshares dropped their price target on National Beverage from $155.00 to $148.00 and set a “positive” rating for the company in a research report on Thursday, September 6th. BidaskClub upgraded National Beverage from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 7th. Guggenheim assumed coverage on National Beverage in a research report on Thursday, September 13th. They set a “sell” rating and a $91.00 price target for the company. Imperial Capital lifted their price target on National Beverage from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research downgraded National Beverage from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $101.00.
National Beverage (NASDAQ:FIZZ) last issued its quarterly earnings results on Thursday, September 6th. The company reported $1.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.04. The firm had revenue of $292.59 million during the quarter, compared to the consensus estimate of $288.40 million. National Beverage had a return on equity of 51.15% and a net margin of 15.90%. On average, sell-side analysts forecast that National Beverage Corp. will post 3.83 earnings per share for the current year.
The company also recently announced a special dividend, which will be paid on Tuesday, January 29th. Investors of record on Friday, November 30th will be given a $2.90 dividend. This is an increase from National Beverage’s previous special dividend of $1.50. The ex-dividend date is Thursday, November 29th.
National Beverage Company Profile
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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