Corient Private Wealth LP Makes New $1.77 Million Investment in National Beverage Corp. $FIZZ

Key Points

• Corient Private Wealth LP acquired 56,859 shares of National Beverage, valued at approximately $1.77 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 23.95% of FIZZ.
• Analyst sentiment remains cautious: FIZZ has an average “Reduce” rating and a $33 price target, with UBS maintaining a “Sell” rating and lowering its target to $33.
• National Beverage reported quarterly EPS of $0.43, below the $0.47 consensus estimate, while revenue of $297.12 million exceeded expectations. The company also paid a special dividend of $3.25 per share.

Corient Private Wealth LP purchased a new stake in National Beverage Corp. (NASDAQ:FIZZ - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 56,859 shares of the company's stock, valued at approximately $1,774,000. Corient Private Wealth LP owned about 0.06% of National Beverage at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FIZZ. Rockefeller Capital Management L.P. raised its position in shares of National Beverage by 958.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 900 shares of the company's stock worth $29,000 after acquiring an additional 815 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of National Beverage by 72.5% in the second quarter. Osaic Holdings Inc. now owns 1,018 shares of the company's stock worth $44,000 after acquiring an additional 428 shares during the period. Advisory Services Network LLC bought a new stake in National Beverage in the third quarter valued at approximately $39,000. Brown Brothers Harriman & Co. boosted its holdings in National Beverage by 213.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,066 shares of the company's stock valued at $39,000 after acquiring an additional 726 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in National Beverage during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 23.95% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on FIZZ. Weiss Ratings upgraded shares of National Beverage from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 24th. UBS Group reaffirmed a "sell" rating and issued a $33.00 price objective (down from $35.00) on shares of National Beverage in a research note on Friday, June 26th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $33.00.

National Beverage Price Performance

Shares of NASDAQ:FIZZ opened at $32.46 on Friday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.56 and a beta of 0.78. The business's 50-day moving average is $31.89 and its 200-day moving average is $34.02. National Beverage Corp. has a 1 year low of $30.01 and a 1 year high of $41.76.

National Beverage (NASDAQ:FIZZ - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The business had revenue of $297.12 million for the quarter, compared to the consensus estimate of $294.81 million. National Beverage had a net margin of 15.56% and a return on equity of 32.20%.

National Beverage Announces Dividend

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

National Beverage Company 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.