Cresset Asset Management LLC Sells 187,888 Shares of Ambev S.A. (NYSE:ABEV)

Cresset Asset Management LLC cut its position in Ambev S.A. (NYSE:ABEV - Free Report) by 92.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,756 shares of the company's stock after selling 187,888 shares during the period. Cresset Asset Management LLC's holdings in Ambev were worth $29,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Ambev in the 4th quarter valued at about $1,739,000. Bank of America Corp DE boosted its position in Ambev by 201.7% during the fourth quarter. Bank of America Corp DE now owns 26,087,675 shares of the company's stock worth $48,262,000 after purchasing an additional 17,440,564 shares during the period. Ancora Advisors LLC boosted its position in Ambev by 86.7% during the fourth quarter. Ancora Advisors LLC now owns 28,000 shares of the company's stock worth $52,000 after purchasing an additional 13,000 shares during the period. Itau Unibanco Holding S.A. grew its stake in Ambev by 83.8% in the 4th quarter. Itau Unibanco Holding S.A. now owns 2,454,174 shares of the company's stock valued at $4,516,000 after buying an additional 1,118,685 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Ambev by 1,313.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 268,500 shares of the company's stock worth $497,000 after purchasing an additional 249,500 shares during the period. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABEV has been the subject of a number of research reports. Wall Street Zen initiated coverage on Ambev in a report on Wednesday, April 23rd. They set a "buy" rating for the company. UBS Group downgraded Ambev from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. Morgan Stanley downgraded Ambev from an "equal weight" rating to an "underweight" rating in a report on Monday, April 7th. Finally, Barclays boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.70.

Ambev Price Performance

NYSE:ABEV traded up $0.02 during trading hours on Friday, reaching $2.53. 22,743,096 shares of the company were exchanged, compared to its average volume of 29,310,174. The company has a market capitalization of $39.79 billion, a P/E ratio of 14.03, a P/E/G ratio of 5.80 and a beta of 0.80. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The business has a 50 day moving average of $2.40 and a 200 day moving average of $2.15.

Ambev (NYSE:ABEV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Ambev had a return on equity of 16.12% and a net margin of 17.02%. The company had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $22.40 billion. Research analysts forecast that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, May 19th will be given a $0.0219 dividend. This represents a dividend yield of 5%. The ex-dividend date of this dividend is Monday, May 19th. Ambev's payout ratio is presently 68.75%.

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.