Corient Private Wealth LP Has $341,000 Position in Ambev S.A. $ABEV

Key Points

• Corient Private Wealth sharply reduced its Ambev stake by 96.5% in the second quarter, selling 2,992,603 shares and retaining 108,729 shares valued at approximately $341,000.
• Analyst sentiment is cautious: five analysts rate Ambev a Hold and one rates it Sell, resulting in an average “Reduce” rating and a consensus price target of $3.08.
• Ambev reported quarterly earnings of $0.04 per share, in line with estimates, while revenue of $3.89 billion fell short of the $4.05 billion consensus. The company also announced a quarterly dividend of $0.0092 per share, implying a 1.2% annualized yield.

Corient Private Wealth LP lessened its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 96.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,729 shares of the company's stock after selling 2,992,603 shares during the period. Corient Private Wealth LP's holdings in Ambev were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABEV. First Trust Advisors LP acquired a new stake in shares of Ambev during the 3rd quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new position in Ambev in the first quarter valued at about $26,000. IHT Wealth Management LLC acquired a new position in Ambev in the fourth quarter valued at about $27,000. S Harris Financial Group LLC bought a new stake in Ambev during the fourth quarter worth about $28,000. Finally, Royal Palms Capital LLC bought a new stake in Ambev during the fourth quarter worth about $29,000. 8.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Ambev Price Performance

Ambev stock opened at $3.03 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 stock has a market capitalization of $47.76 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. The stock has a fifty day moving average of $2.99 and a 200-day moving average of $3.05.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Ambev had a return on equity of 17.48% and a net margin of 18.47%.The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $4.05 billion. On average, sell-side analysts expect that Ambev S.A. will post 0.2 earnings per share for the current fiscal year.

Ambev Dividend Announcement

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

Insider Buying and Selling at Ambev

In other news, Director Manuel Moreira sold 468,040 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $3.08, for a total value of $1,441,563.20. Following the sale, the director directly owned 3,000,000 shares in the company, valued at approximately $9,240,000. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

About Ambev

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.

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