Allspring Global Investments Holdings LLC trimmed its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,116,180 shares of the company's stock after selling 1,403,800 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Ambev worth $40,052,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Ambev by 468.4% in the 1st quarter. GAMMA Investing LLC now owns 10,998 shares of the company's stock valued at $26,000 after acquiring an additional 9,063 shares during the period. Perigon Wealth Management LLC purchased a new position in shares of Ambev in the first quarter worth about $27,000. Naviter Wealth LLC bought a new stake in shares of Ambev in the fourth quarter valued at approximately $29,000. Generation Capital Management LLC purchased a new stake in shares of Ambev during the 4th quarter valued at approximately $28,000. Finally, NewEdge Advisors LLC boosted its holdings in Ambev by 51.4% in the 4th quarter. NewEdge Advisors LLC now owns 17,084 shares of the company's stock worth $32,000 after buying an additional 5,798 shares during the period. 8.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. UBS Group boosted their target price on shares of Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Wall Street Zen assumed coverage on Ambev in a research note on Wednesday, April 23rd. They set a "buy" rating on the stock. Barclays raised their target price on Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Morgan Stanley lowered Ambev from an "equal weight" rating to an "underweight" rating in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.60.
Get Our Latest Stock Analysis on ABEV
Ambev Price Performance
Shares of ABEV traded down $0.02 during mid-day trading on Thursday, reaching $2.47. 8,243,160 shares of the stock traded hands, compared to its average volume of 30,387,856. The company has a market cap of $38.86 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. Ambev S.A. has a 1 year low of $1.76 and a 1 year high of $2.64. The firm has a fifty day moving average price of $2.47 and a 200 day moving average price of $2.20. The company has a current ratio of 1.11, a quick ratio of 0.80 and a debt-to-equity ratio of 0.02.
Ambev (NYSE:ABEV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $22.40 billion. Ambev had a return on equity of 14.74% and a net margin of 15.76%. As a group, equities research analysts predict that Ambev S.A. will post 0.18 earnings per share for the current year.
Ambev Cuts Dividend
The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.0219 per share. This represents a dividend yield of 5%. The ex-dividend date of this dividend is Monday, May 19th. Ambev's payout ratio is 68.75%.
About Ambev
(
Free Report)
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.
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