AQR Capital Management LLC Buys 2,185,372 Shares of Ambev S.A. (NYSE:ABEV)

AQR Capital Management LLC boosted its stake in Ambev S.A. (NYSE:ABEV) by 223.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,163,956 shares of the company’s stock after acquiring an additional 2,185,372 shares during the period. AQR Capital Management LLC’s holdings in Ambev were worth $5,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GQG Partners LLC grew its position in Ambev by 51.9% during the fourth quarter. GQG Partners LLC now owns 196,676,003 shares of the company’s stock valued at $363,851,000 after buying an additional 67,180,274 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Ambev by 1,641.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,001,985 shares of the company’s stock valued at $35,154,000 after purchasing an additional 17,911,122 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Ambev by 101.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 15,639,612 shares of the company’s stock valued at $29,512,000 after purchasing an additional 7,862,672 shares during the period. FIL Ltd purchased a new stake in Ambev in the fourth quarter worth about $13,412,000. Finally, CORDA Investment Management LLC. bought a new position in shares of Ambev in the fourth quarter worth about $11,987,000. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Stock Performance

ABEV opened at $2.53 on Friday. The stock has a market capitalization of $39.79 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 5.80 and a beta of 0.80. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The company has a fifty day moving average of $2.34 and a 200 day moving average of $2.13.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ambev had a net margin of 17.02% and a return on equity of 16.12%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $22.42 billion. As a group, sell-side analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.0221 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.09 annualized dividend and a dividend yield of 3.49%. Ambev’s dividend payout ratio (DPR) is 52.94%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America downgraded Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. StockNews.com initiated coverage on shares of Ambev in a research note on Wednesday, April 23rd. They issued a “buy” rating for the company. Barclays lowered their target price on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Citigroup reiterated a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Finally, UBS Group downgraded Ambev from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.45.

Ambev Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.