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 cut its holdings in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 5.5% in the first quarter, according to its most recent 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 quarter. Brandywine Global Investment Management LLC owned 0.11% of Ambev worth $40,997,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. purchased a new position in Ambev during the 1st quarter worth approximately $925,000. CANADA LIFE ASSURANCE Co raised its position in Ambev by 101.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 15,639,612 shares of the company's stock worth $29,512,000 after buying an additional 7,862,672 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Ambev by 14.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 339,069 shares of the company's stock worth $790,000 after buying an additional 42,722 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Ambev by 46.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 99,571 shares of the company's stock worth $232,000 after buying an additional 31,746 shares during the last quarter. Finally, Altrius Capital Management Inc raised its position in Ambev by 13.3% during the 1st quarter. Altrius Capital Management Inc now owns 4,058,686 shares of the company's stock worth $9,457,000 after buying an additional 475,419 shares during the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Price Performance

ABEV traded up $0.0150 on Wednesday, hitting $2.1850. 16,368,155 shares of the company's stock were exchanged, compared to its average volume of 26,176,290. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.63. The company has a current ratio of 1.11, a quick ratio of 0.80 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $2.34 and a 200-day moving average price of $2.30. The stock has a market cap of $34.43 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 2.37 and a beta of 0.74.

Ambev (NYSE:ABEV - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Ambev had a net margin of 16.18% and a return on equity of 15.39%. The company had revenue of $3.59 billion for the quarter, compared to analysts' expectations of $21.84 billion. As a group, equities analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Increases Dividend

The firm also recently announced a -- dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.023 per share. This is a boost from Ambev's previous -- dividend of $0.02. The ex-dividend date of this dividend is Monday, August 11th. This represents a yield of 660.0%. Ambev's dividend payout ratio is presently 31.25%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABEV. HSBC reaffirmed a "hold" rating on shares of Ambev in a report on Friday, August 1st. Wall Street Zen began coverage on shares of Ambev in a report on Wednesday, April 23rd. They set a "buy" rating for the company. UBS Group cut their target price on shares of Ambev from $2.50 to $2.20 and set a "neutral" rating for the company in a report on Wednesday. Barclays lifted their target price 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. Finally, Hsbc Global Res raised shares of Ambev to a "hold" rating in a research note on Friday, August 1st. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $2.35.

About Ambev

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.