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

National Beverage Corp. (NASDAQ:FIZZ) gapped up before the market opened 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. Investors of record on Monday, July 13th will be paid a dividend of $3.25 per share. The ex-dividend date is Monday, July 13th.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group reissued a “sell” rating and issued a $33.00 target price (down from $35.00) on shares of National Beverage in a report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of National Beverage in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $33.00.

National Beverage Price Performance

The company’s 50 day simple moving average is $35.00 and its 200 day simple moving average is $34.51. The company has a market capitalization of $3.22 billion, a PE ratio of 17.13 and a beta of 0.79.

National Beverage (NASDAQ:FIZZ) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.43 earnings per share 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 company had revenue of $297.12 million for the quarter, compared to analysts’ expectations of $294.81 million.

Institutional Investors Weigh In On National Beverage

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

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.