National Beverage (NASDAQ:FIZZ) Shares Gap Up After Dividend Announcement

National Beverage Corp. (NASDAQ:FIZZ)’s share price gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $31.00, but opened at $32.91. National Beverage shares last traded at $34.1810, with a volume of 175,216 shares changing hands.

The newly announced dividend which will be paid on Thursday, July 30th. Shareholders of record on Monday, July 13th will be given a $3.25 dividend. The ex-dividend date of this dividend is Monday, July 13th.

Analyst Upgrades and Downgrades

A number of research firms have commented on FIZZ. UBS Group restated a “sell” rating and set a $33.00 price target (down from $35.00) on shares of National Beverage in a research note on Friday, June 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of National Beverage in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus price target of $33.00.

National Beverage Trading Up 11.1%

The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 17.13 and a beta of 0.79. The stock’s fifty day simple moving average is $35.00 and its 200-day simple moving average is $34.51.

National Beverage (NASDAQ:FIZZ) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). National Beverage had a return on equity of 36.00% and a net margin of 15.71%.The business had revenue of $297.12 million during the quarter, compared to analyst estimates of $294.81 million.

Institutional Investors Weigh In On National Beverage

Hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its stake in shares of National Beverage by 958.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 900 shares of the company’s stock worth $29,000 after buying an additional 815 shares during the period. Aster Capital Management DIFC Ltd lifted its stake in National Beverage by 156.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,111 shares of the company’s stock worth $35,000 after acquiring an additional 678 shares during the last quarter. Jessup Wealth Management Inc purchased a new position in National Beverage in the fourth quarter worth approximately $38,000. Brown Brothers Harriman & Co. grew its holdings in National Beverage by 213.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,066 shares of the company’s stock worth $39,000 after acquiring an additional 726 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in National Beverage during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 23.95% of the company’s stock.

National Beverage Company 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.