Ambev S.A. $ABEV Stock Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Ambev stake by 97.2% in the second quarter, selling 3.01 million shares and retaining 86,846 shares valued at approximately $273,000.
• Ambev reported quarterly EPS of $0.04, in line with estimates, while revenue of $3.89 billion fell short of the $4.05 billion consensus. The company declared a quarterly dividend of $0.0092 per share, representing a 1.2% annualized yield.
• Analyst sentiment remains cautious: Ambev has a consensus “Reduce” rating, with four Hold ratings and one Sell rating and a consensus price target of $3.08. Shares recently opened at $2.98.

Corient Private Wealth LP trimmed its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 97.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,846 shares of the company's stock after selling 3,014,486 shares during the period. Corient Private Wealth LP's holdings in Ambev were worth $273,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Ambev by 18.1% in the 1st quarter. Royal Bank of Canada now owns 3,700,035 shares of the company's stock valued at $10,804,000 after purchasing an additional 566,949 shares during the period. Cook & Bynum Capital Management LLC purchased a new stake in Ambev in the second quarter worth $4,251,588. First Eagle Investment Management LLC grew its stake in Ambev by 0.7% in the second quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company's stock worth $1,096,875,000 after purchasing an additional 2,338,660 shares during the period. ARGA Investment Management LP raised its holdings in Ambev by 62.0% in the first quarter. ARGA Investment Management LP now owns 967,134 shares of the company's stock worth $2,824,000 after purchasing an additional 370,112 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Ambev by 61.5% in the first quarter. Assetmark Inc. now owns 872,694 shares of the company's stock worth $2,548,000 after purchasing an additional 332,425 shares in the last quarter. Institutional investors own 8.13% of the company's stock.

Insider Activity

In other news, Director Manuel Moreira sold 468,040 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $3.08, for a total transaction of $1,441,563.20. Following the transaction, the director directly owned 3,000,000 shares of the company's stock, valued at $9,240,000. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Ambev Stock Performance

Shares of Ambev stock opened at $2.98 on Monday. Ambev S.A. has a 1 year low of $2.10 and a 1 year high of $3.45. The firm's 50-day moving average is $2.95 and its 200 day moving average is $3.04. The stock has a market cap of $47.05 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.18 and a beta of 0.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 0.76.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates of $0.04. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $4.05 billion. Ambev had a net margin of 18.47% and a return on equity of 17.48%. Sell-side analysts anticipate that Ambev S.A. will post 0.2 EPS for the current fiscal year.

Ambev Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, September 23rd will be paid a $0.0092 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $0.04 annualized dividend and a dividend yield of 1.2%. Ambev's payout ratio is currently 15.00%.

Analyst Ratings Changes

Several brokerages have commented on ABEV. Weiss Ratings reissued a "hold (c+)" rating on shares of Ambev in a research report on Monday, August 3rd. UBS Group set a $2.85 target price on shares of Ambev in a research report on Tuesday, August 11th. Scotiabank lowered shares of Ambev from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen cut shares of Ambev from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $3.08.

Ambev Company 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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