National Beverage (NASDAQ:FIZZ) Reaches New 12-Month Low on Disappointing Earnings

National Beverage Corp. (NASDAQ:FIZZ) shares reached a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $28.85 and last traded at $29.7910, with a volume of 4083 shares. The stock had previously closed at $30.91.

The company reported $0.50 earnings per share (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 analyst estimates of $342.08 million. National Beverage had a return on equity of 32.20% and a net margin of 15.56%.

National Beverage Announces Dividend

The firm also recently declared a special dividend, which was paid on Thursday, July 30th. Investors of record on Monday, July 13th were paid a $3.25 dividend. The ex-dividend date was Monday, July 13th.

Wall Street Analysts Forecast Growth

FIZZ has been the subject of several research analyst reports. UBS Group reiterated a “sell” rating and issued a $32.00 price objective (down from $33.00) on shares of National Beverage in a research report on Friday, September 4th. Weiss Ratings cut 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 MarketBeat, National Beverage presently has a consensus rating of “Sell” and an average target price of $32.00.

Hedge Funds Weigh In On National Beverage

Several hedge funds have recently bought and sold shares of FIZZ. Rockefeller Capital Management L.P. raised its holdings in 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 purchasing an additional 815 shares during the last quarter. Allworth Financial LP acquired a new stake in National Beverage in the second quarter valued at $34,000. Aster Capital Management DIFC Ltd grew its holdings 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 valued at $35,000 after purchasing an additional 678 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of National Beverage in the second quarter valued at $37,000. Finally, Jessup Wealth Management Inc purchased a new position in shares of National Beverage in the fourth quarter valued at $38,000. 23.95% of the stock is owned by hedge funds and other institutional investors.

National Beverage Trading Down 2.9%

The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 15.41 and a beta of 0.78. The firm has a 50 day moving average price of $31.83 and a 200-day moving average price of $33.84.

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.