Vanguard Group Inc. Decreases Stake in National Beverage Corp. $FIZZ

Key Points

• Vanguard reduced its stake in National Beverage by 2.5% in Q3, selling 71,430 shares and ending the quarter with 2,743,727 shares (about a 2.93% ownership) worth roughly $101.3 million.
• Recent quarter missed estimates: National Beverage reported $0.49 EPS vs. $0.52 expected and $288.33M revenue vs. $292.66M consensus, and analysts currently have an average "Sell" rating with a $35 average price target.
• Other institutions materially shifted positions—Millennium Management boosted its stake ~485% to 275,644 shares and Jane Street massively increased to 48,292 shares—and institutional investors now own about 23.95% of the company.

Vanguard Group Inc. lessened its holdings in National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,743,727 shares of the company's stock after selling 71,430 shares during the quarter. Vanguard Group Inc. owned approximately 2.93% of National Beverage worth $101,298,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake in National Beverage by 8.1% in the first quarter. Royal Bank of Canada now owns 18,266 shares of the company's stock valued at $758,000 after acquiring an additional 1,363 shares in the last quarter. AQR Capital Management LLC raised its position in National Beverage by 33.5% during the 1st quarter. AQR Capital Management LLC now owns 19,886 shares of the company's stock worth $826,000 after buying an additional 4,990 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in National Beverage by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,973 shares of the company's stock valued at $580,000 after purchasing an additional 620 shares during the period. Millennium Management LLC boosted its holdings in National Beverage by 485.3% during the first quarter. Millennium Management LLC now owns 275,644 shares of the company's stock worth $11,450,000 after buying an additional 228,553 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of National Beverage by 12,294.9% in the first quarter. Jane Street Group LLC now owns 48,292 shares of the company's stock valued at $2,006,000 after buying an additional 48,688 shares in the last quarter. Institutional investors and hedge funds own 23.95% of the company's stock.

National Beverage Stock Down 0.5%

National Beverage stock opened at $37.25 on Thursday. The firm has a 50-day moving average price of $34.47 and a two-hundred day moving average price of $35.81. National Beverage Corp. has a 52-week low of $31.21 and a 52-week high of $47.89. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 18.72 and a beta of 0.75.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings data on Thursday, December 11th. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.03). National Beverage had a net margin of 15.55% and a return on equity of 39.29%. The company had revenue of $288.33 million for the quarter, compared to the consensus estimate of $292.66 million.

Analysts Set New Price Targets

Several brokerages recently issued reports on FIZZ. Weiss Ratings reissued a "sell (d+)" rating on shares of National Beverage in a research note on Monday, December 29th. UBS Group set a $35.00 price target on National Beverage and gave the stock a "sell" rating in a research report on Friday, December 5th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell" and an average target price of $35.00.

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.

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.