Euro Pacific Asset Management LLC Sells 713,759 Shares of Ambev S.A. $ABEV

Key Points

• Euro Pacific Asset Management cut its Ambev stake by 23.4% in Q1, selling 713,759 shares and leaving it with 2.33 million shares worth about $6.8 million.
• Ambev also saw notable insider selling, with executive Paulo Andre Zagman selling 136,250 shares in May for roughly $464,613.
• The company reported Q1 earnings in line with expectations at $0.05 per share, while revenue came in slightly below estimates; analysts currently have a consensus rating of “Reduce” with a $3.09 price target.

Euro Pacific Asset Management LLC decreased its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 23.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,330,703 shares of the company's stock after selling 713,759 shares during the period. Euro Pacific Asset Management LLC's holdings in Ambev were worth $6,806,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of Ambev by 291.2% during the fourth quarter. Morgan Stanley now owns 45,462,628 shares of the company's stock valued at $112,293,000 after buying an additional 33,842,540 shares during the period. GQG Partners LLC boosted its position in shares of Ambev by 9.1% in the fourth quarter. GQG Partners LLC now owns 172,969,655 shares of the company's stock valued at $427,235,000 after acquiring an additional 14,468,963 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Ambev by 248.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 13,135,697 shares of the company's stock valued at $32,445,000 after acquiring an additional 9,361,815 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Ambev by 74.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company's stock valued at $32,624,000 after acquiring an additional 5,740,155 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Ambev by 9.9% during the second quarter. Bank of America Corp DE now owns 27,505,192 shares of the company's stock valued at $66,288,000 after acquiring an additional 2,479,310 shares in the last quarter. Institutional investors own 8.13% of the company's stock.

Insider Buying and Selling at Ambev

In other news, insider Paulo Andre Zagman sold 136,250 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $3.41, for a total transaction of $464,612.50. Following the sale, the insider owned 230,535 shares in the company, valued at approximately $786,124.35. This trade represents a 37.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ambev Stock Down 0.5%

Shares of NYSE ABEV opened at $3.04 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $3.15 and a 200-day moving average of $2.99. The firm has a market capitalization of $47.84 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.78 and a beta of 0.64. Ambev S.A. has a 12 month low of $2.10 and a 12 month high of $3.45.

Ambev (NYSE:ABEV - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. Ambev had a net margin of 17.69% and a return on equity of 16.63%. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.38 billion. Sell-side analysts expect that Ambev S.A. will post 0.2 earnings per share for the current fiscal year.

Ambev Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, June 24th will be issued a $0.0092 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. Ambev's dividend payout ratio is presently 10.53%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABEV. Wall Street Zen cut shares of Ambev from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. Barclays boosted their price target on shares of Ambev from $3.00 to $3.50 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. UBS Group upped their price target on shares of Ambev from $2.65 to $2.90 and gave the stock a "sell" rating in a report on Thursday, May 14th. Scotiabank downgraded Ambev from a "sector outperform" rating to a "sector perform" rating in a research report on Wednesday. Finally, Weiss Ratings lowered Ambev from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $3.09.

Ambev Profile

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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