Renaissance Technologies LLC Lowers Holdings in National Beverage Corp. $FIZZ

Key Points

• Renaissance Technologies cut its National Beverage stake by 7.2% in Q1, selling 230,200 shares and ending with 2,945,897 shares worth about $99.1 million.
• Analysts remain cautious on FIZZ: Weiss Ratings reiterated a sell rating, and UBS lowered its price target to $33 while keeping a sell rating.
• National Beverage reported mixed quarterly results, with earnings of $0.43 per share missing estimates but revenue of $297.12 million topping forecasts; the company also announced a $3.25 special dividend.

Renaissance Technologies LLC decreased its holdings in shares of National Beverage Corp. (NASDAQ:FIZZ - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,945,897 shares of the company's stock after selling 230,200 shares during the quarter. Renaissance Technologies LLC owned about 3.15% of National Beverage worth $99,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of National Beverage by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 2,784,866 shares of the company's stock worth $88,809,000 after purchasing an additional 41,139 shares during the period. Dimensional Fund Advisors LP increased its position in shares of National Beverage by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,582,865 shares of the company's stock worth $53,265,000 after purchasing an additional 138,433 shares during the last quarter. State Street Corp raised its holdings in National Beverage by 3.2% in the 4th quarter. State Street Corp now owns 902,801 shares of the company's stock valued at $28,790,000 after buying an additional 28,036 shares during the period. Geode Capital Management LLC raised its holdings in National Beverage by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 754,412 shares of the company's stock valued at $24,061,000 after buying an additional 4,288 shares during the period. Finally, Two Sigma Investments LP raised its holdings in National Beverage by 53.7% in the 3rd quarter. Two Sigma Investments LP now owns 320,687 shares of the company's stock valued at $11,840,000 after buying an additional 111,978 shares during the period. Hedge funds and other institutional investors own 23.95% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on FIZZ shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of National Beverage in a research note on Wednesday, June 24th. UBS Group reissued a "sell" rating and issued a $33.00 price target (down from $35.00) on shares of National Beverage in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell" and a consensus target price of $33.00.

National Beverage Stock Up 0.6%

FIZZ opened at $30.70 on Friday. National Beverage Corp. has a 52 week low of $30.01 and a 52 week high of $47.47. The business has a fifty day simple moving average of $34.13 and a 200-day simple moving average of $34.42. The firm has a market cap of $2.87 billion, a P/E ratio of 15.66 and a beta of 0.79.

National Beverage (NASDAQ:FIZZ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.04). The firm had revenue of $297.12 million during the quarter, compared to analyst estimates of $294.81 million. National Beverage had a net margin of 15.56% and a return on equity of 32.20%.

National Beverage Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, July 30th. Shareholders of record on Monday, July 13th will be given a $3.25 dividend. The ex-dividend date of this dividend is Monday, July 13th.

National Beverage Company Profile

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.

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