Cecil D. Conlee, a director at National Beverage Corp (NASDAQ:FIZZ), recently sold shares of the company's stock, according to a filing with the Securities and Exchange Commission. The transactions took place over two days, with Conlee selling a total of 8,000 shares. The sale comes as the company's stock trades at a P/E ratio of 23.4x, with the current price of $46.39 sitting near its 52-week range of $42.85 to $53.58.
On December 12, Conlee sold 2,736 shares at a price of $47.01 each, followed by the sale of 5,264 shares on December 13 at $46.76 per share. The combined value of these transactions totaled $374,764. Following these sales, Conlee holds 48,480 shares of National Beverage stock. InvestingPro analysis shows the company maintains strong financial health with multiple positive indicators.
These transactions were conducted as part of Conlee's direct ownership in the company. National Beverage Corp is known for its popular beverage brands and is headquartered in Fort Lauderdale, Florida. The company demonstrates solid financial fundamentals with a current ratio of 2.54 and holds more cash than debt on its balance sheet.
In other recent news, National Beverage Corp. has reported a 20% increase in earnings per share, rising to $0.47 for the April quarter. Net sales also climbed by 3.7% to reach $297.3 million, exceeding consensus by $6.3 million. The company also declared a special cash dividend of $3.25 per share, its twelfth payout in two decades. In terms of corporate governance, National Beverage recently held an Annual Meeting of Shareholders where Mr. Joseph G. Caporella and Mr. Samuel C. Hathorn, Jr. were re-elected as Class I Directors. However, a shareholder proposal for an annual Environmental, Social, and Governance (ESG) report was rejected. Analyst firm CFRA has adjusted its price target for National Beverage to $50 from $45, maintaining a hold rating on the stock. Other recent developments include a partnership with Major League Soccer team Inter Miami CF and the introduction of a new LaCroix flavor, Mojito. These events highlight the company's recent activities and efforts towards financial growth and community engagement.
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