Corona, California-based manufacturer of beverages, Hansen Natural Corporation ( ) in a bid to enhance shareholders’ value and retain their long-term confidence in the company recently announced a share repurchase program. As per the announcement, the company will repurchase common shares worth $250 million.

Hansen stated that currently it has no shares outstanding for repurchase as the company has completed its previously announced share buyback program worth $200 million. As of June 30, 2011, Hansen had about 93.6 million shares outstanding.

Hansen remains committed to enhancing shareholders’ value by returning capital through share repurchases. These strategies will bolster shareholders' return and raise the market value of the stock.

Further, Hansen possesses strong liquidity to support the share buyback program. At the end of the second quarter, the company had cash and cash equivalents of $418.2 million.

In the recently concluded quarter, Hansen posted earnings per share of 90 cents comprehensively beating the Zacks Consensus Estimate of 83 cents and the year-ago quarter earnings of 69 cents. The better-than-expected results were driven by double-digit top-line growth.

Hansen’s gross sales surged 27.0% year over year in the second quarter to $527.5 million and net sales jumped 26.4% to $462.1 million. Gross margin slipped by 10 basis points to 52.8% due to higher cost of sales. However, operating income for the quarter rose 20.8% to $132.5 million.

Currently, we maintain our long-term Outperform recommendation on the stock. Moreover, Hansen holds a Zacks #1 Rank, which translates into a short-term ‘Strong Buy’ rating. Hansen's peers include Pepsico, Inc. ( PEP - Analyst Report ) and National Beverage Corp. ( FIZZ ) .