Formuepleje A S acquired a new stake in shares of Ambev S.A. (NYSE:ABEV – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 8,085,691 shares of the company’s stock, valued at approximately $23,610,000. Ambev comprises approximately 2.0% of Formuepleje A S’s portfolio, making the stock its 13th biggest holding.
Several other large investors also recently bought and sold shares of the business. QRG Capital Management Inc. boosted its holdings in shares of Ambev by 18.0% during the 2nd quarter. QRG Capital Management Inc. now owns 185,499 shares of the company’s stock worth $582,000 after purchasing an additional 28,350 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Ambev in the second quarter valued at approximately $32,000. Envestnet Asset Management Inc. increased its holdings in shares of Ambev by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,066,693 shares of the company’s stock valued at $12,769,000 after purchasing an additional 31,942 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Ambev by 19.1% in the second quarter. Sequoia Financial Advisors LLC now owns 146,396 shares of the company’s stock valued at $460,000 after purchasing an additional 23,441 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Ambev during the second quarter worth approximately $770,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.
Ambev Trading Up 0.8%
Shares of Ambev stock traded up $0.03 during mid-day trading on Thursday, hitting $3.27. The stock had a trading volume of 9,743,639 shares, compared to its average volume of 26,373,729. The firm has a market cap of $51.62 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $2.98 and a two-hundred day moving average of $3.06. Ambev S.A. has a 12-month low of $2.16 and a 12-month high of $3.45.
Ambev (NYSE:ABEV – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Ambev had a return on equity of 17.48% and a net margin of 18.47%. Sell-side analysts forecast that Ambev S.A. will post 0.21 earnings per share for the current year.
Ambev Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, September 23rd will be given a $0.0092 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. Ambev’s payout ratio is currently 15.00%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Scotiabank lowered Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen raised Ambev from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. UBS Group set a $2.85 price target on Ambev in a report on Tuesday, August 11th. Finally, Bank of America reissued an “underperform” rating and set a $3.30 price target on shares of Ambev in a research report on Wednesday, October 7th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $3.13.
Read Our Latest Stock Analysis on ABEV
Insider Buying and Selling at Ambev
In related news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $3.09, for a total transaction of $187,739.13. Following the completion of the sale, the insider directly owned 80,707 shares of the company’s stock, valued at approximately $249,384.63. This trade represents a 42.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Manuel Moreira sold 468,040 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $3.08, for a total transaction of $1,441,563.20. Following the completion of the sale, the director owned 3,000,000 shares in the company, valued at approximately $9,240,000. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.
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, nonalcoholic beverages and other drink products through a portfolio that includes brands such as Brahma, Skol, Antarctica, Bohemia, Budweiser, Stella Artois and Guaraná Antarctica.
Founded in 1999 through the merger of Companhia Antarctica Paulista and Companhia Cervejaria Brahma, Ambev became part of Anheuser-Busch InBev following the latter’s combination with Anheuser-Busch in 2008.
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