National Beverage Corp. $FIZZ Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in National Beverage Corp. by 5.6%, now owning approximately 0.30% of the company's shares worth $11.57 million.
• National Beverage reported quarterly earnings of $0.48 per share, meeting analysts' expectations, with a revenue of $313.63 million exceeding forecasts.
• UBS Group upgraded their price target for National Beverage from $42.00 to $45.00 while maintaining a "sell" rating, reflecting a cautious outlook.

Northern Trust Corp lowered its holdings in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,610 shares of the company's stock after selling 16,418 shares during the period. Northern Trust Corp owned about 0.30% of National Beverage worth $11,573,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of National Beverage by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,801,900 shares of the company's stock valued at $116,391,000 after buying an additional 54,148 shares during the last quarter. Invesco Ltd. raised its holdings in shares of National Beverage by 36.8% during the first quarter. Invesco Ltd. now owns 218,300 shares of the company's stock valued at $9,068,000 after buying an additional 58,670 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of National Beverage by 47.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 216,763 shares of the company's stock valued at $9,249,000 after buying an additional 69,400 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of National Beverage by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 214,656 shares of the company's stock valued at $8,917,000 after buying an additional 13,053 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of National Beverage during the first quarter valued at approximately $7,302,000. Institutional investors own 23.95% of the company's stock.

National Beverage Stock Performance

Shares of NASDAQ FIZZ remained flat at $39.30 during mid-day trading on Wednesday. 260,676 shares of the company were exchanged, compared to its average volume of 177,668. National Beverage Corp. has a fifty-two week low of $38.25 and a fifty-two week high of $50.51. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 19.65 and a beta of 0.72. The company has a fifty day moving average of $44.77 and a two-hundred day moving average of $43.66.

National Beverage (NASDAQ:FIZZ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 2nd. The company reported $0.48 EPS for the quarter, meeting analysts' consensus estimates of $0.48. The business had revenue of $313.63 million for the quarter, compared to analyst estimates of $303.26 million. National Beverage had a net margin of 15.55% and a return on equity of 49.48%. During the same quarter last year, the business earned $0.47 earnings per share.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price target on National Beverage from $45.00 to $40.00 and set a "sell" rating on the stock in a report on Friday, September 5th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell" and an average price target of $40.00.

National Beverage Company Profile

National Beverage Corp., through its subsidiaries, develops, produces, markets, and sells a portfolio of sparkling waters, juices, energy drinks, and carbonated soft drinks primarily in the United States and Canada. The company's Power+ brand portfolio offers sparkling water products under the LaCroix, LaCroix Cúrate, and LaCroix NiCola; non-carbonated flavored water under the Clear Fruit; energy drink and shots under the Rip It; juice and juice-based products under Everfresh, Everfresh Premier Varietals, and Mr.