Ambev S.A. $ABEV Position Reduced by Seafarer Capital Partners LLC

Key Points

• Seafarer Capital Partners cut its Ambev position by 95.6% in the third quarter, selling 23 million shares and retaining 1.069 million shares worth about $3.1 million.
• Ambev reported quarterly earnings of $0.05 per share, matching analyst expectations, while revenue of $4.17 billion fell short of the $4.21 billion consensus.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of $3.01.

Seafarer Capital Partners LLC reduced its holdings in Ambev S.A. (NYSE:ABEV - Free Report) by 95.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,069,000 shares of the company's stock after selling 23,000,000 shares during the period. Ambev accounts for about 0.8% of Seafarer Capital Partners LLC's portfolio, making the stock its 8th largest holding. Seafarer Capital Partners LLC's holdings in Ambev were worth $3,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC boosted its position in Ambev by 0.7% during the second quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company's stock valued at $1,096,875,000 after purchasing an additional 2,338,660 shares during the last quarter. Renaissance Technologies LLC grew its stake in Ambev by 6.5% in the first quarter. Renaissance Technologies LLC now owns 27,354,300 shares of the company's stock valued at $79,875,000 after purchasing an additional 1,674,900 shares in the last quarter. RWC Asset Management LLP increased its position in shares of Ambev by 2.2% during the 3rd quarter. RWC Asset Management LLP now owns 10,779,739 shares of the company's stock worth $31,477,000 after purchasing an additional 231,992 shares during the last quarter. Formuepleje A S acquired a new position in shares of Ambev during the 3rd quarter worth approximately $23,610,000. Finally, DJE Kapital AG bought a new stake in shares of Ambev during the 1st quarter worth approximately $14,778,000. 8.13% of the stock is owned by institutional investors.

Insider Activity at Ambev

In related news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of Ambev stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $3.09, for a total transaction of $187,739.13. Following the completion of the sale, the insider owned 80,707 shares of the company's stock, valued at approximately $249,384.63. The trade was a 42.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ambev Stock Up 1.3%

ABEV opened at $2.81 on Thursday. Ambev S.A. has a 1-year low of $2.28 and a 1-year high of $3.45. The stock's fifty day simple moving average is $3.00 and its 200 day simple moving average is $3.03. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. The stock has a market cap of $44.21 billion, a PE ratio of 14.58 and a beta of 0.58.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts' expectations of $4.21 billion. Ambev had a net margin of 17.80% and a return on equity of 18.13%. As a group, research analysts expect that Ambev S.A. will post 0.20 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ABEV. Wall Street Zen cut shares of Ambev from a "buy" rating to a "hold" rating in a research note on Sunday. Weiss Ratings raised shares of Ambev from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Scotiabank lowered shares of Ambev from a "sector outperform" rating to a "sector perform" rating in a research report on Wednesday, July 15th. Barclays cut their price target on shares of Ambev from $3.50 to $3.00 and set an "equal weight" rating for the company in a research note on Friday, October 30th. Finally, UBS Group set a $2.85 price objective on shares of Ambev in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $3.01.

Ambev Company Profile

Ambev S.A. is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements. The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean. Its operations span beverage production, packaging and distribution, supported by a network that delivers products to retailers, bars and restaurants.

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