Mirae Asset Global Investments Co. Ltd. Lowers Stake in Ambev S.A. $ABEV

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in Ambev S.A. by 73.4%, now holding 242,669 shares valued at $585,000.
• Several analysts have a mixed outlook on Ambev's stock, with UBS lowering its target price from $2.50 to $2.20 while Zacks upgraded the rating from "strong sell" to "hold."
• Ambev announced an increased dividend of $0.023 per share, reflecting a dividend yield of 660.0%, up from the previous $0.02 per share.

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 73.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,669 shares of the company's stock after selling 670,287 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Ambev were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ABEV. Abacus Wealth Partners LLC purchased a new stake in Ambev during the second quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Ambev by 468.4% during the 1st quarter. GAMMA Investing LLC now owns 10,998 shares of the company's stock valued at $26,000 after purchasing an additional 9,063 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Ambev during the 1st quarter valued at $26,000. Perigon Wealth Management LLC purchased a new stake in shares of Ambev during the 1st quarter valued at $27,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Ambev during the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 8.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABEV shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Ambev in a report on Wednesday. UBS Group cut their target price on Ambev from $2.50 to $2.20 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Zacks Research raised Ambev from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 30th. HSBC reissued a "hold" rating on shares of Ambev in a research report on Friday, August 1st. Finally, Hsbc Global Res raised Ambev to a "hold" rating in a research report on Friday, August 1st. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $2.35.

Ambev Price Performance

Shares of Ambev stock opened at $2.12 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.63. The business has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.35. The firm has a market cap of $33.41 billion, a PE ratio of 13.25, a P/E/G ratio of 2.16 and a beta of 0.85.

Ambev (NYSE:ABEV - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $21.84 billion. Ambev had a return on equity of 15.39% and a net margin of 16.18%. Sell-side analysts predict that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Increases Dividend

The firm also recently announced a -- dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.023 per share. This represents a dividend yield of 660.0%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Ambev's previous -- dividend of $0.02. Ambev's dividend payout ratio is currently 31.25%.

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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