Exchange Traded Concepts LLC Purchases 822,399 Shares of Ambev S.A. (NYSE:ABEV)

Exchange Traded Concepts LLC increased its position in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 4,989.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 838,883 shares of the company's stock after acquiring an additional 822,399 shares during the period. Exchange Traded Concepts LLC's holdings in Ambev were worth $1,955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABEV. Wealth Enhancement Advisory Services LLC lifted its holdings 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 period. SG Americas Securities LLC acquired a new position in shares of Ambev in the 1st quarter valued at about $359,000. CHICAGO TRUST Co NA lifted its stake in shares of Ambev by 50.1% in the 1st quarter. CHICAGO TRUST Co NA now owns 109,997 shares of the company's stock valued at $256,000 after purchasing an additional 36,736 shares during the period. Wynn Capital LLC lifted its stake in shares of Ambev by 16.6% in the 1st quarter. Wynn Capital LLC now owns 114,020 shares of the company's stock valued at $266,000 after purchasing an additional 16,230 shares during the period. Finally, First Affirmative Financial Network lifted its stake in shares of Ambev by 47.7% in the 1st quarter. First Affirmative Financial Network now owns 66,993 shares of the company's stock valued at $156,000 after purchasing an additional 21,638 shares during the period. Institutional investors own 8.13% of the company's stock.

Ambev Stock Down 1.0%

ABEV stock opened at $2.41 on Wednesday. The stock's 50 day simple moving average is $2.46 and its 200 day simple moving average is $2.18. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.80 and a current ratio of 1.11. The company has a market cap of $37.90 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 2.58 and a beta of 0.76.

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

Ambev Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.0219 per share. This represents a yield of 5%. The ex-dividend date is Monday, May 19th. Ambev's dividend payout ratio is currently 68.75%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABEV. UBS Group boosted their price objective on Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen began coverage on Ambev in a research note on Wednesday, April 23rd. They issued a "buy" rating on the stock. Barclays boosted their price objective on Ambev from $2.00 to $2.50 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Morgan Stanley downgraded Ambev from an "equal weight" rating to an "underweight" rating in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Ambev presently has an average rating of "Hold" and an average price target of $2.60.

Ambev Company 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.

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