National Beverage Corp (NASDAQ:FIZZ) Director Cecil D. Conlee sold 10,000 shares of the company's stock on July 11, 2024, a filing with the Securities and Exchange Commission revealed. The stock was sold at an average price of $50.113 per share, totaling approximately $501,130.
The transaction left Conlee with a remaining stake of 56,480 shares in National Beverage Corp. The sale was conducted at an average unit price, indicating that the shares were sold in multiple transactions at prices that varied slightly. The exact prices of each sale were not disclosed, but the average selling price was specified in the filing.
National Beverage Corp, known for its popular soft drink brands, has seen its shares being actively traded by insiders in recent times. While the reasons behind such sales are not always clear to the public, they are often watched by investors as potential indicators of the company's financial health and future prospects.
Investors and followers of National Beverage Corp can stay informed about further insider transactions by monitoring future SEC filings from the company's executives and directors.
In other recent news, National Beverage Corp., the maker of LaCroix sparkling water, has announced a special cash dividend of $3.25 per share, marking the twelfth such payout in the past two decades. This comes as the company continues to exhibit strong market performance with eleven consecutive quarters of record sales, increased gross profits, and operating income. National Beverage is also set to release its fiscal year results soon, which are anticipated to reflect the company's sustained momentum in sales and profitability.
In another significant development, National Beverage has formed a partnership with Major League Soccer team Inter Miami CF, making LaCroix the official sparkling water of the club. This collaboration aims to promote health and wellness in South Florida and enhance the fan experience during the team’s matches and events. The partnership also extends to the team’s youth soccer initiatives, supporting young athletes and encouraging active participation in sports.
Furthermore, National Beverage continues to demonstrate its commitment to innovation in the beverage industry with the introduction of a new LaCroix flavor, Mojito, thereby expanding its diverse product range. The company's focus on flavor innovation and packaging has been instrumental in maintaining its position in the sparkling water market. These are the latest developments from National Beverage Corp.
InvestingPro Insights
National Beverage Corp's recent insider trading activity may offer investors a glimpse into the company's valuation and financial health. According to InvestingPro data, National Beverage Corp has a market capitalization of approximately $4.71 billion, with a P/E ratio of 26.84. This valuation comes as the company holds a strong cash position relative to its debt, as highlighted by one of the InvestingPro Tips. Additionally, National Beverage Corp's liquid assets surpass short-term obligations, which can be an indicator of financial stability.
The company's stock has also demonstrated a robust performance, with a 13.35% return over the last month and an 18.33% return over the last three months. This is in line with another InvestingPro Tip which notes the company's strong returns over various time frames. However, it's important to note that National Beverage Corp does not pay dividends to shareholders, a factor that income-focused investors might consider.
For those looking to delve deeper into National Beverage Corp's financials and stock performance, there are additional InvestingPro Tips available on their platform. Interested investors can explore these insights and make more informed decisions by using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. With a total of 11 InvestingPro Tips listed for National Beverage Corp, users can gain a comprehensive understanding of the company's financial landscape and market position.
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