Arrowstreet Capital Limited Partnership trimmed its holdings in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 37.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,327 shares of the company's stock after selling 48,193 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.09% of National Beverage worth $2,703,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in National Beverage by 46.6% in the fourth quarter. Teacher Retirement System of Texas now owns 172,570 shares of the company's stock valued at $5,503,000 after acquiring an additional 54,877 shares in the last quarter. KBC Group NV purchased a new position in shares of National Beverage during the first quarter worth about $1,578,000. Denali Advisors LLC increased its position in shares of National Beverage by 22.2% during the fourth quarter. Denali Advisors LLC now owns 222,762 shares of the company's stock worth $7,104,000 after purchasing an additional 40,500 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of National Beverage by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,582,865 shares of the company's stock worth $53,265,000 after purchasing an additional 138,433 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of National Beverage by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,784,866 shares of the company's stock worth $88,809,000 after purchasing an additional 41,139 shares in the last quarter. 23.95% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
FIZZ has been the subject of a number of research analyst reports. UBS Group reissued a "sell" rating and issued a $33.00 target price (down from $35.00) on shares of National Beverage in a research report on Friday, June 26th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of National Beverage in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, National Beverage has a consensus rating of "Sell" and an average price target of $33.00.
Check Out Our Latest Research Report on FIZZ
National Beverage Stock Up 0.8%
NASDAQ FIZZ opened at $31.77 on Wednesday. National Beverage Corp. has a 52-week low of $30.01 and a 52-week high of $47.47. The business's 50-day moving average price is $33.66 and its 200 day moving average price is $34.40. The firm has a market cap of $2.97 billion, a P/E ratio of 16.21 and a beta of 0.78.
National Beverage (NASDAQ:FIZZ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). National Beverage had a net margin of 15.56% and a return on equity of 32.20%. The company had revenue of $297.12 million for the quarter, compared to analysts' expectations of $294.81 million.
National Beverage Announces Dividend
The company also recently announced a special dividend, which was paid on Thursday, July 30th. Stockholders of record on Monday, July 13th were issued a $3.25 dividend. The ex-dividend date of this dividend was Monday, July 13th.
About National Beverage
(
Free Report)
National Beverage Corp. NASDAQ: FIZZ is a U.S.-based beverage company specializing in the development, marketing and production of nonalcoholic refreshment products. The company's portfolio includes a range of sparkling waters, soft drinks and energy beverages designed for a variety of consumer tastes and dietary preferences. Through in-house bottling operations and strategic partnerships with co-packers, National Beverage manages production from flavor formulation to final packaging and distribution.
Founded in 1985, National Beverage has broadened its product lineup over the decades through both organic brand introductions and selective acquisitions.
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