Eldred Rock Partners LLC Raises Stock Position in Ambev S.A. (NYSE:ABEV)

Eldred Rock Partners LLC grew its position in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 32.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,547,820 shares of the company's stock after buying an additional 876,661 shares during the period. Ambev comprises 2.5% of Eldred Rock Partners LLC's portfolio, making the stock its 26th largest position. Eldred Rock Partners LLC's holdings in Ambev were worth $8,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Ambev during the fourth quarter worth about $30,000. Blue Trust Inc. boosted its stake in shares of Ambev by 29.3% during the 4th quarter. Blue Trust Inc. now owns 169,664 shares of the company's stock valued at $314,000 after buying an additional 38,417 shares during the period. Caprock Group LLC grew its position in Ambev by 12.4% in the fourth quarter. Caprock Group LLC now owns 65,189 shares of the company's stock worth $128,000 after acquiring an additional 7,211 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ambev by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 913,104 shares of the company's stock valued at $1,689,000 after acquiring an additional 20,837 shares during the last quarter. Finally, Private Management Group Inc. grew its position in shares of Ambev by 8.1% in the fourth quarter. Private Management Group Inc. now owns 14,512,234 shares of the company's stock valued at $26,848,000 after purchasing an additional 1,083,882 shares during the last quarter. 8.13% of the stock is owned by institutional investors and hedge funds.

Ambev Trading Up 1.4%

ABEV stock traded up $0.04 during trading on Tuesday, reaching $2.48. The company had a trading volume of 20,491,919 shares, compared to its average volume of 29,393,657. The company has a market cap of $39.00 billion, a P/E ratio of 13.75, a PEG ratio of 5.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.64. The business has a 50 day moving average of $2.42 and a 200 day moving average of $2.16.

Ambev (NYSE:ABEV - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $22.40 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. As a group, sell-side analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, May 19th will be given a dividend of $0.0219 per share. This represents a yield of 5%. The ex-dividend date is Monday, May 19th. Ambev's dividend payout ratio is currently 68.75%.

Wall Street Analyst Weigh In

ABEV has been the subject of a number of research reports. Barclays raised their price target on shares of Ambev from $2.00 to $2.50 and gave the company an "equal weight" rating in a report on Monday, May 12th. Morgan Stanley cut Ambev from an "equal weight" rating to an "underweight" rating in a report on Monday, April 7th. Wall Street Zen assumed coverage on shares of Ambev in a research note on Wednesday, April 23rd. They issued a "buy" rating on the stock. Finally, UBS Group cut Ambev from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.70.

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.