Cerity Partners LLC Sells 171,071 Shares of Ambev S.A. (NYSE:ABEV)

Key Points

• Cerity Partners LLC has reduced its stake in Ambev S.A. by 54.2%, now holding 144,380 shares valued at $336,000 after selling 171,071 shares in the first quarter.
• Ambev reported a net margin of 15.76% and revenue of $3.92 billion for the last quarter, matching consensus earnings per share estimates of $0.04.
• Several institutional investors have increased their stakes in Ambev, with Bank of America boosting its position by 201.7%, now owning over 26 million shares valued at approximately $48 million.

Cerity Partners LLC lessened its position in Ambev S.A. (NYSE:ABEV - Free Report) by 54.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,380 shares of the company's stock after selling 171,071 shares during the quarter. Cerity Partners LLC's holdings in Ambev were worth $336,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp acquired a new stake in Ambev in the 1st quarter worth $30,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Ambev in the 1st quarter worth $28,000. Onyx Bridge Wealth Group LLC grew its position in Ambev by 27.8% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 37,368 shares of the company's stock worth $87,000 after purchasing an additional 8,137 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Ambev by 106.2% in the 1st quarter. Checchi Capital Advisers LLC now owns 31,425 shares of the company's stock worth $73,000 after purchasing an additional 16,188 shares during the last quarter. Finally, Red Door Wealth Management LLC grew its position in Ambev by 81.0% in the 1st quarter. Red Door Wealth Management LLC now owns 19,000 shares of the company's stock worth $44,000 after purchasing an additional 8,500 shares during the last quarter. Institutional investors own 8.13% of the company's stock.

Wall Street Analyst Weigh In

ABEV has been the topic of several research analyst reports. UBS Group raised their price target on shares of Ambev from $2.60 to $2.70 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Barclays raised their price target on shares of Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen initiated coverage on shares of Ambev in a research report on Wednesday, April 23rd. They issued a "buy" rating on the stock. Finally, Morgan Stanley lowered shares of Ambev from an "equal weight" rating to an "underweight" rating in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $2.60.

Ambev Price Performance

Shares of Ambev stock traded up $0.04 during trading on Tuesday, hitting $2.34. 19,367,046 shares of the company's stock traded hands, compared to its average volume of 33,544,137. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.80. The firm's fifty day moving average price is $2.43 and its 200 day moving average price is $2.26. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.63. The company has a market cap of $36.79 billion, a PE ratio of 14.59, a PEG ratio of 2.53 and a beta of 0.74.

Ambev (NYSE:ABEV - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Ambev had a net margin of 15.76% and a return on equity of 14.74%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $22.40 billion. Analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

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

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.