Bank of New York Mellon Corp Purchases New Holdings in National Beverage Corp. $FIZZ

Key Points

• Bank of New York Mellon acquired 178,561 shares of National Beverage, worth approximately $5.57 million, giving it a 0.19% stake. Other institutional investors also increased or initiated positions, while institutional ownership reached 23.95%.
• Analyst sentiment remains cautious: UBS reaffirmed a “sell” rating and lowered its price target to $32, while the overall consensus rating is “Reduce” with a $32 average target.
• National Beverage reported quarterly EPS of $0.43, below the $0.47 consensus estimate, though revenue of $297.12 million exceeded expectations. The company also paid a special $3.25-per-share dividend.

Bank of New York Mellon Corp acquired a new position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 178,561 shares of the company's stock, valued at approximately $5,571,000. Bank of New York Mellon Corp owned 0.19% of National Beverage at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in National Beverage in the second quarter worth $319,000. GAMMA Investing LLC boosted its position in National Beverage by 50.0% during the second quarter. GAMMA Investing LLC now owns 11,843 shares of the company's stock valued at $370,000 after purchasing an additional 3,948 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of National Beverage by 175.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,367 shares of the company's stock valued at $43,000 after buying an additional 871 shares in the last quarter. Pacer Advisors Inc. grew its holdings in National Beverage by 40.4% in the first quarter. Pacer Advisors Inc. now owns 3,508 shares of the company's stock worth $118,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in National Beverage during the 1st quarter worth $261,000. Institutional investors own 23.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group reissued a "sell" rating and set a $32.00 price objective (down from $33.00) on shares of National Beverage in a report on Friday. Weiss Ratings upgraded National Beverage from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $32.00.

National Beverage Trading Down 0.7%

NASDAQ:FIZZ opened at $32.24 on Friday. The company has a market cap of $3.02 billion, a P/E ratio of 16.45 and a beta of 0.78. The company's 50-day moving average price is $31.88 and its 200-day moving average price is $34.01. National Beverage Corp. has a twelve month low of $30.01 and a twelve month high of $41.56.

National Beverage (NASDAQ:FIZZ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $294.81 million.

National Beverage Dividend Announcement

The company also recently announced a special dividend, which was paid on Thursday, July 30th. Shareholders of record on Monday, July 13th were issued a $3.25 dividend. The ex-dividend date was Monday, July 13th.

National Beverage Profile

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.

Want to see what other hedge funds are holding FIZZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Beverage Corp. (NASDAQ:FIZZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source