State Board of Administration of Florida Retirement System cut its holdings in National Beverage Corp. (NASDAQ:FIZZ) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,436 shares of the company’s stock after selling 925 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in National Beverage were worth $949,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of National Beverage by 2.9% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 834,136 shares of the company’s stock valued at $59,866,000 after purchasing an additional 23,436 shares in the last quarter. BlackRock Inc. boosted its stake in National Beverage by 1.3% during the fourth quarter. BlackRock Inc. now owns 801,946 shares of the company’s stock worth $57,555,000 after buying an additional 9,904 shares during the period. FMR LLC boosted its stake in National Beverage by 3.2% during the fourth quarter. FMR LLC now owns 282,620 shares of the company’s stock worth $20,283,000 after buying an additional 8,772 shares during the period. Gamco Investors INC. ET AL boosted its stake in National Beverage by 3.3% during the first quarter. Gamco Investors INC. ET AL now owns 231,682 shares of the company’s stock worth $13,375,000 after buying an additional 7,469 shares during the period. Finally, Deutsche Bank AG boosted its stake in National Beverage by 14.3% during the fourth quarter. Deutsche Bank AG now owns 214,719 shares of the company’s stock worth $15,409,000 after buying an additional 26,820 shares during the period. 24.82% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. BidaskClub lowered shares of National Beverage from a “sell” rating to a “strong sell” rating in a research note on Friday, May 17th. Guggenheim lifted their price objective on shares of National Beverage to $45.00 and gave the stock a “sell” rating in a research note on Thursday. UBS Group dropped their price objective on shares of National Beverage to $50.00 and set a “positive” rating for the company in a research note on Monday, April 15th. Maxim Group reaffirmed a “sell” rating and set a $45.00 price objective on shares of National Beverage in a research note on Friday, March 8th. Finally, TheStreet lowered shares of National Beverage from a “b-” rating to a “c+” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. National Beverage currently has a consensus rating of “Hold” and an average price target of $75.50.

In related news, President Joseph G. Caporella bought 6,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $59.95 per share, with a total value of $359,700.00. Following the completion of the purchase, the president now owns 413,600 shares of the company’s stock, valued at $24,795,320. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 75.20% of the stock is currently owned by insiders.

Shares of FIZZ opened at $45.15 on Friday. The firm has a market cap of $2.13 billion, a PE ratio of 14.17, a P/E/G ratio of 7.89 and a beta of 1.25. National Beverage Corp. has a 12-month low of $44.60 and a 12-month high of $127.32.

National Beverage (NASDAQ:FIZZ) last issued its earnings results on Thursday, March 7th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.23). The company had revenue of $220.89 million for the quarter, compared to analysts’ expectations of $254.80 million. National Beverage had a net margin of 14.84% and a return on equity of 42.23%. As a group, sell-side analysts predict that National Beverage Corp. will post 3.09 EPS for the current fiscal year.

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National Beverage Profile

National Beverage Corp., through its subsidiaries, develops, produces, markets, and sells a portfolio of waters, juices, energy drinks, and carbonated soft drinks primarily in the United States and Canada. The company offers beverages to the active and health-conscious consumers, including sparkling waters, energy drinks, and juices under the LaCroix, LaCroix C├║rate, LaCroix NiCola, Shasta Sparkling Water, the Rip It, Everfresh, Everfresh Premier Varietals, and Mr.

Further Reading: What is an SEC Filing?

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Institutional Ownership by Quarter for National Beverage (NASDAQ:FIZZ)

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