254,684 Shares in National Beverage Corp. $FIZZ Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 254,684 shares of National Beverage in the second quarter, worth approximately $7.95 million and representing about 0.27% of the company. Institutional investors collectively owned 23.95% of FIZZ.
• National Beverage’s latest quarterly results fell short of expectations, with earnings of $0.50 per share versus the $0.59 consensus estimate and revenue of $330.66 million versus $342.08 million expected.
• FIZZ shares were trading at $29.67, near their one-year low, while analysts maintained a bearish outlook: the stock carries an average “Sell” rating and a $31 price target. The company also recently paid a special $3.25-per-share dividend.

Bank of America Corp DE acquired a new stake in National Beverage Corp. (NASDAQ:FIZZ - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 254,684 shares of the company's stock, valued at approximately $7,946,000. Bank of America Corp DE owned about 0.27% of National Beverage at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in National Beverage during the second quarter worth about $133,087,000. Dimensional Fund Advisors LP grew its holdings in National Beverage by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,582,865 shares of the company's stock valued at $53,265,000 after buying an additional 138,433 shares in the last quarter. Algert Global LLC boosted its position in shares of National Beverage by 54.5% in the second quarter. Algert Global LLC now owns 273,849 shares of the company's stock valued at $8,544,000 after acquiring an additional 96,550 shares during the period. Natixis Advisors LLC grew its stake in National Beverage by 16.5% during the fourth quarter. Natixis Advisors LLC now owns 224,339 shares of the company's stock valued at $7,154,000 after acquiring an additional 31,783 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in National Beverage during the 2nd quarter worth approximately $5,571,000. 23.95% of the stock is owned by institutional investors.

National Beverage Trading Down 0.7%

Shares of NASDAQ FIZZ opened at $29.67 on Friday. The stock's 50-day moving average is $31.61 and its 200 day moving average is $33.42. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 15.95 and a beta of 0.78. National Beverage Corp. has a 1-year low of $28.97 and a 1-year high of $38.21.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings results on Thursday, September 10th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). The business had revenue of $330.66 million for the quarter, compared to the consensus estimate of $342.08 million. National Beverage had a net margin of 14.81% and a return on equity of 32.61%.

National Beverage Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, July 30th. Stockholders of record on Monday, July 13th were paid a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, July 13th.

Analyst Upgrades and Downgrades

FIZZ has been the subject of several recent analyst reports. Weiss Ratings cut National Beverage from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, September 8th. UBS Group set a $31.00 price target on National Beverage and gave the company a "sell" rating in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell" and an average target price of $31.00.

About National Beverage

National Beverage Corp. NASDAQ: FIZZ develops, manufactures and distributes a portfolio of nonalcoholic beverages. Its products include flavored sparkling waters, carbonated soft drinks, energy drinks, juices and enhanced water beverages, serving consumers through retail, foodservice and other distribution channels.

The company's brand portfolio includes LaCroix sparkling water, Shasta and Faygo carbonated soft drinks, Everfresh and Mr. Pure juices, and Rip It energy drinks. National Beverage markets its products primarily in the United States, with distribution also extending into Canada and other select markets.

National Beverage was formed in 1985 and is headquartered in Fort Lauderdale, Florida.

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