National Beverage (NASDAQ:FIZZ) Shares Down 4.9% on Disappointing Earnings

National Beverage Corp. (NASDAQ:FIZZ) shares dropped 4.9% during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $38.51 and last traded at $39.27. Approximately 33,488 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 178,063 shares. The stock had previously closed at $41.31.

The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). National Beverage had a net margin of 15.63% and a return on equity of 42.80%. The firm had revenue of $267.05 million during the quarter, compared to analyst estimates of $282.22 million.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered their price target on shares of National Beverage from $46.00 to $41.00 and set a “sell” rating for the company in a report on Thursday, February 27th.

Insider Activity at National Beverage

In related news, Director Cecil D. Conlee sold 2,736 shares of National Beverage stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $47.01, for a total transaction of $128,619.36. Following the sale, the director now directly owns 53,744 shares in the company, valued at approximately $2,526,505.44. This trade represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 74.80% of the stock is owned by corporate insiders.

Institutional Trading of National Beverage

Several hedge funds have recently made changes to their positions in FIZZ. Newbridge Financial Services Group Inc. purchased a new stake in National Beverage during the 4th quarter worth about $40,000. Lazard Asset Management LLC bought a new position in National Beverage in the 4th quarter valued at $52,000. KBC Group NV grew its position in shares of National Beverage by 89.3% during the 4th quarter. KBC Group NV now owns 1,357 shares of the company’s stock valued at $58,000 after purchasing an additional 640 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of National Beverage by 38.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,499 shares of the company’s stock worth $64,000 after buying an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in National Beverage by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 1,594 shares of the company’s stock valued at $68,000 after buying an additional 484 shares during the period. 23.95% of the stock is currently owned by institutional investors.

National Beverage Stock Down 4.7 %

The firm has a market capitalization of $3.69 billion, a PE ratio of 19.87 and a beta of 0.84. The company has a 50-day moving average of $41.49 and a 200 day moving average of $44.72.

About National Beverage

National Beverage Corp., through its subsidiaries, develops, produces, markets, and sells a portfolio of sparkling waters, juices, energy drinks, and carbonated soft drinks primarily in the United States and Canada. The company's Power+ brand portfolio offers sparkling water products under the LaCroix, LaCroix Cúrate, and LaCroix NiCola; non-carbonated flavored water under the Clear Fruit; energy drink and shots under the Rip It; juice and juice-based products under Everfresh, Everfresh Premier Varietals, and Mr.