ARGA Investment Management LP Acquires 370,112 Shares of Ambev S.A. $ABEV

Key Points

• ARGA Investment Management increased its Ambev stake by 62% in the first quarter, buying 370,112 additional shares and bringing its total holdings to 967,134 shares worth about $2.824 million.
• Analyst sentiment remains mixed, with five Hold ratings and one Sell; MarketBeat says the consensus rating is Reduce with an average price target of $3.09.
• Ambev reported quarterly EPS of $0.05, matching estimates, and declared a quarterly dividend of $0.0092 per share, implying a 1.2% annualized yield.

ARGA Investment Management LP raised its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 62.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 967,134 shares of the company's stock after purchasing an additional 370,112 shares during the period. ARGA Investment Management LP's holdings in Ambev were worth $2,824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in shares of Ambev by 17.7% in the fourth quarter. NewEdge Advisors LLC now owns 23,578 shares of the company's stock valued at $58,000 after buying an additional 3,553 shares during the period. CHICAGO TRUST Co NA lifted its stake in shares of Ambev by 2.2% in the first quarter. CHICAGO TRUST Co NA now owns 173,886 shares of the company's stock worth $508,000 after acquiring an additional 3,702 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Ambev by 34.3% in the fourth quarter. Perigon Wealth Management LLC now owns 15,411 shares of the company's stock worth $38,000 after acquiring an additional 3,936 shares during the period. Federation des caisses Desjardins du Quebec boosted its holdings in Ambev by 4.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 100,451 shares of the company's stock valued at $248,000 after acquiring an additional 4,237 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in Ambev by 3.4% in the third quarter. Blair William & Co. IL now owns 140,579 shares of the company's stock valued at $313,000 after acquiring an additional 4,557 shares during the last quarter. 8.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on ABEV shares. Wall Street Zen upgraded shares of Ambev from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. Barclays increased their price objective on shares of Ambev from $3.00 to $3.50 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Weiss Ratings cut shares of Ambev from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Finally, UBS Group increased their price target on Ambev from $2.65 to $2.90 and gave the stock a "sell" rating in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $3.09.

Ambev Stock Performance

NYSE:ABEV opened at $3.06 on Friday. The company has a fifty day moving average of $3.17 and a 200-day moving average of $2.96. The firm has a market capitalization of $48.31 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.78 and a beta of 0.64. The company has a quick ratio of 0.78, a current ratio of 1.03 and a debt-to-equity ratio of 0.02. Ambev S.A. has a twelve month low of $2.10 and a twelve month high of $3.45.

Ambev (NYSE:ABEV - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.38 billion. Ambev had a net margin of 17.69% and a return on equity of 16.63%. As a group, sell-side analysts anticipate that Ambev S.A. will post 0.2 EPS for the current year.

Ambev Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.0092 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, June 24th. Ambev's dividend payout ratio is 10.53%.

Insider Activity

In other news, insider Paulo Andre Zagman sold 136,250 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $3.41, for a total transaction of $464,612.50. Following the transaction, the insider owned 230,535 shares of the company's stock, valued at $786,124.35. This represents a 37.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ambev Company Profile

Ambev NYSE: ABEV is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company's core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.

Want to see what other hedge funds are holding ABEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambev S.A. (NYSE:ABEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.