Tidal Investments LLC lessened its position in shares of Ambev S.A. (NYSE:ABEV – Free Report) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,576,554 shares of the company’s stock after selling 488,057 shares during the quarter. Tidal Investments LLC’s holdings in Ambev were worth $8,090,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABEV. Integrated Advisors Network LLC purchased a new stake in shares of Ambev during the 1st quarter worth about $31,000. IHT Wealth Management LLC purchased a new position in shares of Ambev in the 4th quarter valued at about $27,000. First Trust Advisors LP purchased a new position in shares of Ambev in the 3rd quarter valued at about $25,000. Integrated Wealth Concepts LLC acquired a new position in Ambev in the 1st quarter worth about $26,000. Finally, World Investment Advisors acquired a new position in Ambev in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.
Insider Activity at Ambev
In other news, Director Manuel Moreira sold 468,040 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 3,000,000 shares in the company, valued at $9,240,000. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Ambev Stock Down 0.8%
Ambev (NYSE:ABEV – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Ambev had a net margin of 18.47% and a return on equity of 17.48%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $4.05 billion. Equities analysts forecast that Ambev S.A. will post 0.2 earnings per share for the current fiscal year.
Ambev Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.0092 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. Ambev’s dividend payout ratio is presently 10.00%.
Analyst Ratings Changes
A number of brokerages have issued reports on ABEV. Wall Street Zen downgraded Ambev from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Scotiabank cut Ambev from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ambev in a research note on Monday, August 3rd. Finally, UBS Group set a $2.85 target price on Ambev in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ambev has a consensus rating of “Reduce” and an average price target of $3.08.
Read Our Latest Report on ABEV
Ambev Profile
Ambev SA is a Brazilian beverage company and one of the largest brewers in Latin America. The company produces, distributes and sells beer, carbonated soft drinks and other nonalcoholic beverages through a portfolio of local, regional and international brands.
Its beer portfolio includes brands such as Skol, Brahma, Antarctica, Bohemia, Original, Stella Artois and Budweiser, while its nonalcoholic beverage offerings include products marketed under brands such as Guaraná Antarctica and Pepsi.
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