Envestnet Asset Management Inc. Sells 577,809 Shares of Ambev S.A. (NYSE:ABEV)

Envestnet Asset Management Inc. cut its position in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,702,717 shares of the company's stock after selling 577,809 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Ambev were worth $10,550,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Insight Inv LLC purchased a new position in shares of Ambev in the fourth quarter worth about $25,000. Naviter Wealth LLC bought a new position in Ambev during the 4th quarter worth approximately $29,000. Exchange Traded Concepts LLC purchased a new position in Ambev in the 4th quarter worth approximately $30,000. Angeles Wealth Management LLC bought a new stake in Ambev in the fourth quarter valued at approximately $36,000. Finally, Mondrian Investment Partners LTD boosted its stake in shares of Ambev by 40.4% during the fourth quarter. Mondrian Investment Partners LTD now owns 20,810 shares of the company's stock valued at $38,000 after purchasing an additional 5,993 shares during the period. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Trading Down 0.2 %

ABEV stock traded down $0.01 during trading on Thursday, reaching $2.45. The company had a trading volume of 22,949,071 shares, compared to its average volume of 27,883,102. The business has a 50 day moving average of $2.22 and a 200 day moving average of $2.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The company has a market cap of $38.53 billion, a P/E ratio of 13.58, a PEG ratio of 5.80 and a beta of 0.68. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.56.

Ambev (NYSE:ABEV - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $22.42 billion. Ambev had a net margin of 17.02% and a return on equity of 16.12%. As a group, sell-side analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Tuesday, March 18th were given a $0.0221 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 3.61%. Ambev's dividend payout ratio is currently 52.94%.

Wall Street Analysts Forecast Growth

ABEV has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on shares of Ambev in a report on Wednesday. They set a "buy" rating for the company. Morgan Stanley downgraded shares of Ambev from an "equal weight" rating to an "underweight" rating in a research note on Monday, April 7th. Bank of America cut Ambev from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Barclays lowered their price target on Ambev from $2.50 to $2.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Finally, Citigroup reiterated a "neutral" rating on shares of Ambev in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.45.

Ambev Profile

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.