Ambev S.A. $ABEV Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its holdings in Ambev S.A. by 5.5%, selling 1,018,747 shares and leaving it with 17,595,463 shares valued at approximately $41 million.
• Multiple analysts raised their target prices for Ambev, with Barclays increasing its target from $2.00 to $2.50, indicating a shift in market sentiment towards a more favorable outlook.
• Ambev recently announced a boost in its dividend, increasing from $0.02 to $0.023, resulting in an extraordinary yield of 660.0%.

Brandywine Global Investment Management LLC lessened its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,595,463 shares of the company's stock after selling 1,018,747 shares during the period. Brandywine Global Investment Management LLC owned about 0.11% of Ambev worth $40,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABEV. Ted Buchan & Co bought a new stake in Ambev in the first quarter valued at approximately $85,000. Mondrian Investment Partners LTD increased its position in shares of Ambev by 32.0% in the first quarter. Mondrian Investment Partners LTD now owns 27,466 shares of the company's stock valued at $64,000 after acquiring an additional 6,656 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Ambev by 105.8% during the first quarter. Russell Investments Group Ltd. now owns 16,170,388 shares of the company's stock valued at $37,677,000 after acquiring an additional 8,312,561 shares during the last quarter. Tranquilli Financial Advisor LLC boosted its holdings in shares of Ambev by 37.3% during the first quarter. Tranquilli Financial Advisor LLC now owns 20,943 shares of the company's stock worth $49,000 after purchasing an additional 5,685 shares during the period. Finally, Virtus Family Office LLC grew its stake in shares of Ambev by 4.7% in the first quarter. Virtus Family Office LLC now owns 477,591 shares of the company's stock worth $1,123,000 after purchasing an additional 21,443 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Down 1.1%

Shares of ABEV traded down $0.0250 during mid-day trading on Tuesday, hitting $2.1650. 29,160,348 shares of the company traded hands, compared to its average volume of 33,057,406. The company has a market capitalization of $34.12 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. 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 business has a 50 day moving average of $2.35 and a 200 day moving average of $2.31. 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 released its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $21.84 billion. Ambev had a net margin of 16.18% and a return on equity of 15.39%. Equities research analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Increases Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, October 14th. Investors of record on Monday, August 11th will be issued a dividend of $0.023 per share. This represents a dividend yield of 660.0%. This is a positive change from Ambev's previous -- dividend of $0.02. The ex-dividend date of this dividend is Monday, August 11th. Ambev's dividend payout ratio is presently 25.00%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABEV. Hsbc Global Res raised shares of Ambev to a "hold" rating in a research note on Friday, August 1st. Wall Street Zen initiated coverage on Ambev in a report on Wednesday, April 23rd. They issued a "buy" rating on the stock. HSBC restated a "hold" rating on shares of Ambev in a research report on Friday, August 1st. UBS Group lifted their price objective 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. Finally, Barclays lifted their target price on Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $2.60.

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.