Ambev S.A. $ABEV Stake Cut by Truist Financial Corp

Truist Financial Corp cut its position in shares of Ambev S.A. (NYSE:ABEV) by 39.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,067 shares of the company’s stock after selling 10,667 shares during the quarter. Truist Financial Corp’s holdings in Ambev were worth $39,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ABEV. Russell Investments Group Ltd. lifted its stake in Ambev by 105.8% during the first quarter. Russell Investments Group Ltd. now owns 16,170,388 shares of the company’s stock worth $37,677,000 after purchasing an additional 8,312,561 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in Ambev by 836.1% in the first quarter. Great Lakes Advisors LLC now owns 4,954,218 shares of the company’s stock valued at $11,543,000 after buying an additional 4,424,987 shares during the last quarter. Walleye Capital LLC lifted its stake in Ambev by 538.4% in the first quarter. Walleye Capital LLC now owns 5,242,702 shares of the company’s stock valued at $12,215,000 after buying an additional 4,421,534 shares during the last quarter. Strs Ohio bought a new stake in Ambev in the first quarter valued at $7,133,000. Finally, Invesco Ltd. lifted its stake in Ambev by 98.6% in the first quarter. Invesco Ltd. now owns 3,803,683 shares of the company’s stock valued at $8,863,000 after buying an additional 1,887,987 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Ambev in a research note on Wednesday, October 8th. HSBC reiterated a “hold” rating on shares of Ambev in a research note on Friday, August 1st. Zacks Research upgraded shares of Ambev from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Hsbc Global Res upgraded shares of Ambev to a “hold” rating in a research note on Friday, August 1st. Finally, UBS Group cut their price objective on shares of Ambev from $2.50 to $2.20 and set a “neutral” rating on the stock in a research note on Wednesday, August 20th. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ambev presently has a consensus rating of “Reduce” and a consensus price target of $2.35.

Ambev Price Performance

Shares of NYSE ABEV opened at $2.26 on Monday. The firm’s 50-day simple moving average is $2.23 and its 200 day simple moving average is $2.34. The stock has a market cap of $35.61 billion, a P/E ratio of 14.13, a P/E/G ratio of 2.26 and a beta of 0.85. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.63. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $21.84 billion. Ambev had a return on equity of 15.39% and a net margin of 16.18%. Equities analysts expect that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Increases Dividend

The company also recently announced a — dividend, which was paid on Tuesday, October 14th. Investors of record on Monday, August 11th were issued a dividend of $0.023 per share. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from Ambev’s previous — dividend of $0.02. This represents a yield of 660.0%. Ambev’s dividend payout ratio is presently 31.25%.

About Ambev

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.