Corient Private Wealth LP Makes New Investment in National Beverage Corp. $FIZZ

Corient Private Wealth LP purchased a new stake in National Beverage Corp. (NASDAQ:FIZZ) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,859 shares of the company’s stock, valued at approximately $1,774,000.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its position in shares of National Beverage by 958.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 815 shares in the last quarter. Allworth Financial LP bought a new stake in National Beverage in the 2nd quarter valued at about $34,000. Aster Capital Management DIFC Ltd increased its position in National Beverage by 156.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,111 shares of the company’s stock valued at $35,000 after buying an additional 678 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in National Beverage during the 2nd quarter worth approximately $37,000. Finally, Jessup Wealth Management Inc acquired a new position in National Beverage during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 23.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FIZZ. UBS Group reissued a “sell” rating and issued a $33.00 price objective (down from $35.00) on shares of National Beverage in a research note on Friday, June 26th. Weiss Ratings raised National Beverage from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $33.00.

National Beverage Price Performance

Shares of NASDAQ FIZZ opened at $32.46 on Friday. The company has a 50-day moving average price of $31.89 and a 200-day moving average price of $34.02. The stock has a market capitalization of $3.04 billion, a P/E ratio of 16.56 and a beta of 0.78. National Beverage Corp. has a 1 year low of $30.01 and a 1 year high of $41.76.

National Beverage (NASDAQ:FIZZ) last posted its earnings results on Wednesday, July 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). National Beverage had a return on equity of 32.20% and a net margin of 15.56%.The business had revenue of $297.12 million during the quarter, compared to analyst estimates of $294.81 million.

National Beverage Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, July 30th. Stockholders of record on Monday, July 13th were paid a $3.25 dividend. The ex-dividend date of this dividend was Monday, July 13th.

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.