Ambev S.A. $ABEV Shares Newly Acquired by Formuepleje A S

Key Points

• Formuepleje A S acquired 8.1 million Ambev shares worth approximately $23.6 million, making the stock its 13th-largest holding and representing about 2% of its portfolio.
• Analyst sentiment remains cautious: Ambev has an average “Reduce” rating and a consensus price target of $3.13, despite upgrades from Weiss Ratings and Wall Street Zen.
• Ambev reported quarterly EPS of $0.04, in line with expectations, but revenue of $3.89 billion fell short of the $4.05 billion consensus estimate. The company also announced a quarterly dividend of $0.0092 per share, implying a 1.1% annualized yield.

Formuepleje A S bought a new position in shares of Ambev S.A. (NYSE:ABEV - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,085,691 shares of the company's stock, valued at approximately $23,610,000. Ambev accounts for approximately 2.0% of Formuepleje A S's portfolio, making the stock its 13th largest holding. Formuepleje A S owned about 0.05% of Ambev as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ABEV. S Harris Financial Group LLC acquired a new stake in shares of Ambev during the 4th quarter worth approximately $28,000. Integrated Advisors Network LLC acquired a new position in shares of Ambev in the 1st quarter valued at $31,000. World Investment Advisors acquired a new stake in Ambev during the first quarter valued at $32,000. Envestnet Portfolio Solutions Inc. purchased a new position in Ambev in the second quarter valued at $32,000. Finally, Equitable Trust Co. purchased a new position in Ambev in the first quarter valued at $34,000. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ambev

In other news, Director Manuel Moreira sold 468,040 shares of Ambev stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $3.08, for a total value of $1,441,563.20. Following the sale, the director directly owned 3,000,000 shares of the company's stock, valued at $9,240,000. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of Ambev stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.09, for a total value of $187,739.13. Following the completion of the sale, the insider directly owned 80,707 shares in the company, valued at $249,384.63. This represents a 42.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ABEV shares. Bank of America reissued an "underperform" rating and set a $3.30 target price on shares of Ambev in a research note on Wednesday, October 7th. Scotiabank lowered Ambev from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, July 15th. Weiss Ratings raised Ambev from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded Ambev from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Finally, UBS Group set a $2.85 price objective on Ambev in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $3.13.

Ambev Price Performance

Shares of ABEV stock traded up $0.03 on Thursday, reaching $3.27. 9,743,639 shares of the company were exchanged, compared to its average volume of 26,373,729. Ambev S.A. has a 1 year low of $2.16 and a 1 year high of $3.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.02. The business has a 50-day moving average price of $2.98 and a 200 day moving average price of $3.06. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 2.03 and a beta of 0.58.

Ambev (NYSE:ABEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Ambev had a return on equity of 17.48% and a net margin of 18.47%. The company had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $4.05 billion. Equities research analysts forecast that Ambev S.A. will post 0.21 earnings per share for the current fiscal year.

Ambev Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, September 23rd will be given a $0.0092 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 23rd. Ambev's dividend payout ratio (DPR) is 15.00%.

Ambev Profile

Ambev SA is a Brazilian beverage company and one of the largest brewers in Latin America. The company produces, distributes and sells beer, carbonated soft drinks, nonalcoholic beverages and other drink products through a portfolio that includes brands such as Brahma, Skol, Antarctica, Bohemia, Budweiser, Stella Artois and Guaraná Antarctica.

Founded in 1999 through the merger of Companhia Antarctica Paulista and Companhia Cervejaria Brahma, Ambev became part of Anheuser-Busch InBev following the latter's combination with Anheuser-Busch in 2008.

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