Raymond James Financial Inc. Grows Holdings in Ambev S.A. $ABEV

Key Points

• Raymond James Financial Inc. increased its stake in Ambev S.A. by 9.3% during the 1st quarter, holding 2,080,838 shares valued at approximately $4.85 million.
• Ambev recently declared a dividend increase to $0.023 per share, translating to a remarkable yield of 660.0%, from the previous $0.02.
• The company's latest quarterly earnings met expectations with an EPS of $0.03, alongside revenues of $3.59 billion.

Raymond James Financial Inc. boosted its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,080,838 shares of the company's stock after acquiring an additional 176,683 shares during the period. Raymond James Financial Inc.'s holdings in Ambev were worth $4,848,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABEV. American Century Companies Inc. boosted its holdings in shares of Ambev by 10.0% during the 1st quarter. American Century Companies Inc. now owns 2,455,125 shares of the company's stock worth $5,720,000 after buying an additional 222,768 shares in the last quarter. Ethic Inc. grew its position in Ambev by 1,059.5% in the 1st quarter. Ethic Inc. now owns 598,982 shares of the company's stock worth $1,402,000 after purchasing an additional 547,323 shares in the last quarter. Ted Buchan & Co purchased a new position in Ambev in the first quarter worth $85,000. Mondrian Investment Partners LTD increased its position in shares of Ambev by 32.0% during the 1st quarter. Mondrian Investment Partners LTD now owns 27,466 shares of the company's stock valued at $64,000 after purchasing an additional 6,656 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Ambev by 105.8% during the 1st quarter. Russell Investments Group Ltd. now owns 16,170,388 shares of the company's stock valued at $37,677,000 after acquiring an additional 8,312,561 shares during the period. Institutional investors own 8.13% of the company's stock.

Ambev Trading Up 1.6%

Shares of NYSE:ABEV traded up $0.04 on Wednesday, reaching $2.26. 41,055,662 shares of the company traded hands, compared to its average volume of 28,600,522. The stock has a market capitalization of $35.53 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.84. The business's 50-day simple moving average is $2.28 and its 200 day simple moving average is $2.34. 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 S.A. has a 52 week low of $1.76 and a 52 week high of $2.63.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. Ambev had a return on equity of 15.39% and a net margin of 16.18%.The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $21.84 billion. As a group, equities analysts anticipate that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Monday, August 11th will be given a dividend of $0.023 per share. This represents a yield of 660.0%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Ambev's previous -- dividend of $0.02. Ambev's dividend payout ratio is currently 31.25%.

Wall Street Analyst Weigh In

ABEV has been the subject of several research reports. HSBC reissued a "hold" rating on shares of Ambev in a report on Friday, August 1st. Hsbc Global Res raised shares of Ambev to a "hold" rating in a report on Friday, August 1st. Finally, UBS Group cut their price target on shares of Ambev from $2.50 to $2.20 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $2.35.

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.