Bank of America Corp DE Has $40.41 Million Stake in Ambev S.A. $ABEV

Bank of America Corp DE lowered its holdings in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 21.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,870,831 shares of the company's stock after selling 3,434,610 shares during the period. Bank of America Corp DE owned approximately 0.08% of Ambev worth $40,414,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ABEV. Roberts Glore & Co. Inc. IL bought a new stake in Ambev during the second quarter worth $91,000. Cook & Bynum Capital Management LLC bought a new position in Ambev during the 2nd quarter valued at $4,251,588. Palisade Capital Management LP bought a new position in Ambev during the 2nd quarter valued at $49,000. Nolet Wealth Management LLC purchased a new position in Ambev during the 2nd quarter worth $42,000. Finally, Wynn Capital LLC boosted its holdings in Ambev by 3.7% during the 2nd quarter. Wynn Capital LLC now owns 150,285 shares of the company's stock worth $472,000 after acquiring an additional 5,420 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABEV has been the topic of a number of research reports. Scotiabank cut shares of Ambev from a "sector outperform" rating to a "sector perform" rating in a report on Wednesday, July 15th. UBS Group set a $2.85 price objective on Ambev in a report on Tuesday, August 11th. Weiss Ratings reissued a "hold (c+)" rating on shares of Ambev in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered Ambev from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $3.08.

Ambev Price Performance

ABEV stock opened at $2.98 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.02. Ambev S.A. has a 52 week low of $2.10 and a 52 week high of $3.45. The firm's fifty day moving average is $2.98 and its 200 day moving average is $3.04. The firm has a market cap of $46.97 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.14 and a beta of 0.64.

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

Ambev Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, September 23rd will be issued a $0.0092 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $0.04 annualized dividend and a yield of 1.2%. Ambev's dividend payout ratio (DPR) is 10.00%.

Insiders Place Their Bets

In related 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 transaction of $1,441,563.20. Following the sale, the director directly owned 3,000,000 shares in the company, valued at $9,240,000. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

About Ambev

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 and other nonalcoholic beverages through a portfolio of local, regional and international brands.

Its beer portfolio includes brands such as Skol, Brahma, Antarctica, Bohemia, Original, Stella Artois and Budweiser, while its nonalcoholic beverage offerings include products marketed under brands such as Guaraná Antarctica and Pepsi.

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