National Beverage (NASDAQ:FIZZ) Releases Quarterly Earnings Results, Hits Estimates

Key Points

• EPS met estimates at $0.44 while revenue of $264.6 million missed consensus ($271.1M); the company reported a 39.29% return on equity and a 15.55% net margin.
• Shares fell $0.20 to $34.25 on higher-than-average volume, with a market capitalization of $3.21 billion and a trailing P/E of 17.21.
• Analysts' consensus is "Sell" with a $34.00 price target after recent sell reiterations from UBS and Weiss Ratings, while institutional investors hold about 23.95% of the stock and several funds modestly increased positions.

National Beverage (NASDAQ:FIZZ - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.44 earnings per share for the quarter, meeting analysts' consensus estimates of $0.44, FiscalAI reports. The business had revenue of $264.59 million during the quarter, compared to analysts' expectations of $271.06 million. National Beverage had a return on equity of 39.29% and a net margin of 15.55%.

National Beverage Price Performance

FIZZ traded down $0.20 during midday trading on Thursday, reaching $34.25. 405,012 shares of the company's stock were exchanged, compared to its average volume of 272,749. National Beverage has a 1-year low of $31.21 and a 1-year high of $47.89. The business's 50-day moving average price is $34.79 and its 200 day moving average price is $35.47. The stock has a market capitalization of $3.21 billion, a PE ratio of 17.21 and a beta of 0.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FIZZ. Weiss Ratings reissued a "sell (d+)" rating on shares of National Beverage in a research report on Monday, December 29th. UBS Group reaffirmed a "sell" rating and set a $34.00 price objective (down from $35.00) on shares of National Beverage in a report on Tuesday. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell" and a consensus price target of $34.00.

Institutional Investors Weigh In On National Beverage

Several hedge funds have recently made changes to their positions in FIZZ. Franklin Resources Inc. grew its position in National Beverage by 27.6% during the third quarter. Franklin Resources Inc. now owns 10,090 shares of the company's stock valued at $373,000 after acquiring an additional 2,184 shares during the period. Brevan Howard Capital Management LP acquired a new stake in National Beverage in the third quarter valued at approximately $331,000. Quantinno Capital Management LP acquired a new stake in National Beverage during the 2nd quarter valued at $316,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of National Beverage during the fourth quarter worth about $299,000. Finally, Bank of Montreal Can increased its holdings in National Beverage by 67.3% during the 4th quarter. Bank of Montreal Can now owns 9,067 shares of the company's stock worth $289,000 after purchasing an additional 3,647 shares during the last quarter. Institutional investors and hedge funds own 23.95% of the company's stock.

About National Beverage

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.

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