VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.16 Million in National Beverage Corp. $FIZZ

Key Points

• Virginia Retirement Systems purchased 37,193 shares of National Beverage worth approximately $1.16 million during the second quarter. Institutional investors collectively own 23.95% of FIZZ.
• National Beverage recently reported quarterly EPS of $0.50 and revenue of $330.66 million, missing analyst expectations of $0.59 EPS and $342.08 million in revenue.
• Analyst sentiment remains negative: UBS maintained a “sell” rating with a $32 price target, while the average analyst rating is “Sell.” The company also paid a special dividend of $3.25 per share.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in National Beverage Corp. (NASDAQ:FIZZ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,193 shares of the company's stock, valued at approximately $1,160,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its holdings in National Beverage by 958.8% in 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 in the last quarter. Allworth Financial LP purchased a new stake in shares of National Beverage in the second quarter worth $34,000. Aster Capital Management DIFC Ltd increased its holdings in shares of National Beverage by 156.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,111 shares of the company's stock valued at $35,000 after acquiring an additional 678 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of National Beverage during the second quarter valued at $37,000. Finally, Jessup Wealth Management Inc purchased a new position in shares of National Beverage in the 4th quarter worth about $38,000. Institutional investors own 23.95% of the company's stock.

National Beverage Trading Up 1.5%

Shares of FIZZ opened at $31.37 on Friday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 16.87 and a beta of 0.78. The business's fifty day simple moving average is $31.79 and its two-hundred day simple moving average is $33.82. National Beverage Corp. has a 12 month low of $28.97 and a 12 month high of $40.65.

National Beverage (NASDAQ:FIZZ - Get Free Report) last released its quarterly earnings data on Thursday, September 10th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The business had revenue of $330.66 million for the quarter, compared to analysts' expectations of $342.08 million. National Beverage had a net margin of 14.81% and a return on equity of 29.52%.

National Beverage Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, July 30th. Investors of record on Monday, July 13th were given a dividend of $3.25 per share. The ex-dividend date was Monday, July 13th.

Analysts Set New Price Targets

FIZZ has been the topic of a number of analyst reports. UBS Group reiterated a "sell" rating and issued a $32.00 price target (down from $33.00) on shares of National Beverage in a research note on Friday, September 4th. Weiss Ratings lowered shares of National Beverage from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell" and an average target price of $32.00.

National Beverage Company Profile

National Beverage Corp. NASDAQ: FIZZ develops, manufactures and distributes a portfolio of nonalcoholic beverages. Its products include flavored sparkling waters, carbonated soft drinks, energy drinks, juices and enhanced water beverages, serving consumers through retail, foodservice and other distribution channels.

The company's brand portfolio includes LaCroix sparkling water, Shasta and Faygo carbonated soft drinks, Everfresh and Mr. Pure juices, and Rip It energy drinks. National Beverage markets its products primarily in the United States, with distribution also extending into Canada and other select markets.

National Beverage was formed in 1985 and is headquartered in Fort Lauderdale, Florida.

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.