Avantax Advisory Services Inc. Grows Holdings in Ambev S.A. (NYSE:ABEV)

Key Points

• Avantax Advisory Services Inc. significantly increased its holdings in Ambev S.A. by 2,502.6% during the first quarter, acquiring 710,842 additional shares, bringing their total to 739,246 shares worth $1.72 million.
• Ambev's recent earnings report showed a flat EPS of $0.04, meeting analysts' expectations, although reported revenue of $3.92 billion was below the expected $22.40 billion.
• The company recently cut its dividend, paying a dividend of $0.0219 with a notable yield of 500%, while its payout ratio stands at 68.75%.

Avantax Advisory Services Inc. boosted its position in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 2,502.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 739,246 shares of the company's stock after buying an additional 710,842 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Ambev were worth $1,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABEV. GAMMA Investing LLC grew its position in shares of Ambev by 468.4% in the first quarter. GAMMA Investing LLC now owns 10,998 shares of the company's stock valued at $26,000 after purchasing an additional 9,063 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Ambev in the first quarter valued at about $27,000. Generation Capital Management LLC acquired a new stake in shares of Ambev in the fourth quarter valued at about $28,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Ambev in the first quarter valued at about $28,000. Finally, M&T Bank Corp acquired a new stake in shares of Ambev in the first quarter valued at about $30,000. Institutional investors and hedge funds own 8.13% of the company's stock.

Wall Street Analyst Weigh In

ABEV has been the topic of several research reports. Barclays raised their price target on shares of Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen initiated coverage on shares of Ambev in a research note on Wednesday, April 23rd. They issued a "buy" rating on the stock. UBS Group raised their price target on shares of Ambev from $2.60 to $2.70 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Hsbc Global Res raised shares of Ambev to a "hold" rating in a research note on Friday. Finally, Morgan Stanley downgraded shares of Ambev from an "equal weight" rating to an "underweight" rating in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $2.60.

Ambev Trading Up 1.1%

NYSE:ABEV traded up $0.03 on Tuesday, hitting $2.24. The stock had a trading volume of 9,816,116 shares, compared to its average volume of 33,617,457. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02. The stock has a market cap of $35.22 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 2.31 and a beta of 0.74. The company has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $2.28. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.63.

Ambev (NYSE:ABEV - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $21.84 billion. Ambev had a net margin of 16.18% and a return on equity of 15.39%. Equities research analysts expect that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Increases Dividend

The business also recently declared a -- dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Monday, August 11th will be paid a $0.023 dividend. This is a positive change from Ambev's previous -- dividend of $0.02. The ex-dividend date of this dividend is Monday, August 11th. This represents a dividend yield of 660.0%. Ambev's payout ratio is presently 68.75%.

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.