First Eagle Investment Management LLC Boosts Stock Position in Ambev S.A. $ABEV

Key Points

• First Eagle Investment Management increased its Ambev stake by 0.7% in the second quarter, adding 2.34 million shares to hold 349.3 million shares valued at approximately $1.10 billion.
• Ambev reported quarterly EPS of $0.04, matching estimates, while revenue of $3.89 billion fell short of the $4.05 billion consensus. The company declared a quarterly dividend of $0.0092 per share, representing a 1.2% annualized yield.
• Analyst sentiment remains cautious, with five Hold ratings and one Sell rating, an average rating of “Reduce,” and a consensus price target of $3.08. Separately, director Manuel Moreira sold 468,040 shares at an average price of $3.08.

First Eagle Investment Management LLC raised its holdings in Ambev S.A. (NYSE:ABEV - Free Report) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,323,217 shares of the company's stock after purchasing an additional 2,338,660 shares during the quarter. First Eagle Investment Management LLC owned 2.22% of Ambev worth $1,096,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ABEV. HB Wealth Management LLC purchased a new position in Ambev in the second quarter valued at about $51,000. OceanIQ Capital LLC purchased a new stake in shares of Ambev during the 2nd quarter worth approximately $651,000. Nykredit A S bought a new stake in shares of Ambev in the 2nd quarter worth approximately $337,000. Rehmann Capital Advisory Group raised its holdings in shares of Ambev by 37.5% in the 2nd quarter. Rehmann Capital Advisory Group now owns 20,593 shares of the company's stock worth $65,000 after purchasing an additional 5,614 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Ambev by 18.8% in the second quarter. Benjamin Edwards Inc. now owns 164,967 shares of the company's stock valued at $518,000 after purchasing an additional 26,097 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company's stock.

Ambev Stock Up 0.3%

ABEV opened at $3.03 on Monday. Ambev S.A. has a 12 month low of $2.10 and a 12 month high of $3.45. The company has a market cap of $47.76 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. The company has a current ratio of 1.02, a quick ratio of 0.76 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $3.00 and a 200 day moving average of $3.05.

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

Ambev Dividend Announcement

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

Insider Activity

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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

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

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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