First Eagle Investment Management LLC raised its holdings in shares of Ambev S.A. (NYSE:ABEV – Free Report) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 349,323,217 shares of the company’s stock after acquiring an additional 2,338,660 shares during the period. First Eagle Investment Management LLC’s holdings in Ambev were worth $1,096,875,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Ambev by 18.1% during the first quarter. Royal Bank of Canada now owns 3,700,035 shares of the company’s stock worth $10,804,000 after purchasing an additional 566,949 shares in the last quarter. Cook & Bynum Capital Management LLC purchased a new stake in Ambev in the second quarter valued at approximately $4,251,588. ARGA Investment Management LP lifted its position in Ambev by 62.0% during the first quarter. ARGA Investment Management LP now owns 967,134 shares of the company’s stock valued at $2,824,000 after purchasing an additional 370,112 shares during the last quarter. Assetmark Inc. grew its stake in Ambev by 61.5% in the 1st quarter. Assetmark Inc. now owns 872,694 shares of the company’s stock worth $2,548,000 after buying an additional 332,425 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Ambev by 6.5% in the 1st quarter. Renaissance Technologies LLC now owns 27,354,300 shares of the company’s stock worth $79,875,000 after buying an additional 1,674,900 shares in the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.
Ambev Trading Up 0.3%
Shares of ABEV opened at $3.03 on Monday. Ambev S.A. has a fifty-two week low of $2.10 and a fifty-two week high of $3.45. The firm has a market cap of $47.76 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 2.20 and a beta of 0.64. The firm has a 50 day moving average price of $3.00 and a 200-day moving average price of $3.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.02.
Ambev Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of $0.0092 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 23rd. Ambev’s dividend payout ratio (DPR) is 10.00%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Scotiabank cut shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, July 15th. UBS Group set a $2.85 target price on Ambev in a research note on Tuesday, August 11th. Wall Street Zen downgraded Ambev from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ambev in a research note on Monday, August 3rd. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $3.08.
View Our Latest Stock Analysis on ABEV
Insider Activity at Ambev
In other news, Director Manuel Moreira sold 468,040 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $3.08, for a total value of $1,441,563.20. Following the completion of the sale, the director owned 3,000,000 shares of the company’s stock, valued at approximately $9,240,000. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
About Ambev
Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.
The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.
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