National Beverage (NASDAQ:FIZZ) Hits New 1-Year High - Still a Buy?

Key Points

• National Beverage shares reached a new 52-week high of $38.26, up from the prior close of $36.10.
• Analyst sentiment remains cautious: the consensus rating is “Reduce”, with an average price target of $31.00, below the recent share price.
• The company’s latest quarterly results missed expectations, reporting EPS of $0.50 versus $0.59 expected and revenue of $330.66 million versus $342.08 million expected.

National Beverage Corp. (NASDAQ:FIZZ - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $38.26 and last traded at $38.2560, with a volume of 139,204 shares. The stock had previously closed at $36.10.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FIZZ shares. UBS Group set a $31.00 price target on shares of National Beverage and gave the company a "sell" rating in a report on Monday, September 14th. Weiss Ratings raised National Beverage from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, October 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $31.00.

National Beverage Price Performance

The company has a market cap of $3.52 billion, a PE ratio of 20.24 and a beta of 0.82. The business has a 50-day moving average of $32.40 and a 200 day moving average of $33.70.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). National Beverage had a return on equity of 32.61% and a net margin of 14.81%. The business had revenue of $330.66 million during the quarter, compared to the consensus estimate of $342.08 million.

Hedge Funds Weigh In On National Beverage

A number of hedge funds have recently modified their holdings of FIZZ. BlackRock Inc. purchased a new stake in National Beverage in the 2nd quarter worth $133,087,000. Dimensional Fund Advisors LP grew its position in shares of National Beverage by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,582,865 shares of the company's stock valued at $53,265,000 after purchasing an additional 138,433 shares in the last quarter. Algert Global LLC increased its holdings in shares of National Beverage by 54.5% in the second quarter. Algert Global LLC now owns 273,849 shares of the company's stock worth $8,544,000 after purchasing an additional 96,550 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of National Beverage in the second quarter worth about $7,946,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of National Beverage in the second quarter worth about $5,571,000. 23.95% of the stock is currently owned by institutional investors.

National Beverage Company Profile

National Beverage Corp. is a beverage company that develops, produces and distributes a portfolio of carbonated soft drinks, flavored sparkling waters, energy drinks, juices and other nonalcoholic beverages. The company is best known for LaCroix sparkling water and also markets brands including Shasta, Faygo, Rip It, Everfresh, Mr. Pure and Tahitian Treat.

National Beverage serves consumers primarily in the United States through grocery stores, mass merchandisers, convenience stores, food-service outlets and other retail channels.

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