Private Management Group Inc. lessened its stake in Ambev S.A. (NYSE:ABEV – Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,843,977 shares of the company’s stock after selling 454,897 shares during the quarter. Private Management Group Inc. owned 0.07% of Ambev worth $34,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. GQG Partners LLC raised its holdings in Ambev by 9.1% in the fourth quarter. GQG Partners LLC now owns 172,969,655 shares of the company’s stock worth $427,235,000 after buying an additional 14,468,963 shares during the last quarter. Morgan Stanley grew its holdings in shares of Ambev by 291.2% during the fourth quarter. Morgan Stanley now owns 45,462,628 shares of the company’s stock valued at $112,293,000 after buying an additional 33,842,540 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Ambev by 9.9% during the second quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock valued at $66,288,000 after buying an additional 2,479,310 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Ambev by 6.5% during the first quarter. Renaissance Technologies LLC now owns 27,354,300 shares of the company’s stock valued at $79,875,000 after acquiring an additional 1,674,900 shares in the last quarter. Finally, Brandes Investment Partners LP increased its position in shares of Ambev by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 22,600,124 shares of the company’s stock valued at $55,822,000 after acquiring an additional 874,657 shares in the last quarter. Institutional investors own 8.13% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. UBS Group set a $2.85 price objective on Ambev in a research report on Tuesday, August 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ambev in a report on Monday, August 3rd. Barclays upped their price target on Ambev from $3.00 to $3.50 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Wall Street Zen cut Ambev from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Scotiabank downgraded Ambev from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, July 15th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ambev currently has a consensus rating of “Reduce” and an average target price of $3.08.
Insider Activity at Ambev
In related news, Director Ricardo Manuel Frangat Moreira sold 468,040 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was 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 represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ambev Trading Down 0.7%
Shares of ABEV stock opened at $2.86 on Friday. Ambev S.A. has a 12-month low of $2.10 and a 12-month high of $3.45. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $3.02 and its 200 day moving average is $3.05. The stock has a market capitalization of $45.08 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.08 and a beta of 0.65.
Ambev (NYSE:ABEV – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $4.05 billion. Ambev had a net margin of 18.47% and a return on equity of 17.48%. Research analysts expect that Ambev S.A. will post 0.2 earnings per share for the current year.
Ambev Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, September 23rd will be issued a $0.0092 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.04 annualized dividend and a dividend yield of 1.3%. Ambev’s payout ratio is presently 15.00%.
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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