National Beverage (NASDAQ:FIZZ) Announces Earnings Results

Key Points

• National Beverage reported $0.60 earnings per share for the quarter, meeting the consensus estimate, with a return on equity of 49.48%.
• The company's stock rose 2.7% to $40.35, while UBS Group lowered its target price from $45.00 to $40.00 and assigned a "sell" rating.
• Institutional ownership of National Beverage increased significantly, with First Trust Advisors boosting its stake by 434.8% in the second quarter.

National Beverage (NASDAQ:FIZZ - Get Free Report) released its earnings results on Thursday. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60, Zacks reports. The firm had revenue of $330.52 million during the quarter, compared to analyst estimates of $354.18 million. National Beverage had a return on equity of 43.51% and a net margin of 15.45%.

National Beverage Stock Down 0.2%

Shares of NASDAQ FIZZ traded down $0.08 on Tuesday, hitting $38.54. The company had a trading volume of 341,792 shares, compared to its average volume of 211,304. National Beverage has a 12-month low of $38.04 and a 12-month high of $50.51. The business has a 50 day moving average of $44.18 and a two-hundred day moving average of $43.65. The firm has a market capitalization of $3.61 billion, a P/E ratio of 19.37 and a beta of 0.72.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their price target on National Beverage from $40.00 to $39.00 and set a "sell" rating for the company in a research note on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat, National Beverage has an average rating of "Sell" and an average target price of $39.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in National Beverage by 72.5% in the second quarter. Osaic Holdings Inc. now owns 1,018 shares of the company's stock valued at $44,000 after purchasing an additional 428 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in National Beverage by 116.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,313 shares of the company's stock valued at $100,000 after purchasing an additional 1,246 shares during the last quarter. Quantinno Capital Management LP purchased a new position in National Beverage in the second quarter valued at about $316,000. Engineers Gate Manager LP boosted its holdings in National Beverage by 17.0% in the second quarter. Engineers Gate Manager LP now owns 13,162 shares of the company's stock valued at $569,000 after purchasing an additional 1,913 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 23.95% of the company's stock.

About National Beverage

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.