Ninety One UK Ltd Sells 292,088 Shares of Ambev S.A. $ABEV

Key Points

• Ninety One UK Ltd has reduced its stake in Ambev S.A. by 9.4%, selling 292,088 shares and holding 2,799,396 shares valued at approximately $6.75 million after the sale.
• HSBC has reaffirmed a "hold" rating for Ambev, with a consensus price target set at $2.35, while UBS has lowered its price objective from $2.50 to $2.20.
• Ambev recently declared an increase in its dividend to $0.023 per share, up from the previous $0.02, with a yield of 660.0%.

Ninety One UK Ltd cut its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,799,396 shares of the company's stock after selling 292,088 shares during the period. Ninety One UK Ltd's holdings in Ambev were worth $6,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABEV. Abacus Wealth Partners LLC bought a new position in shares of Ambev in the second quarter worth about $25,000. GAMMA Investing LLC lifted its holdings in Ambev by 468.4% during the first 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Ambev during the first quarter valued at approximately $26,000. Perigon Wealth Management LLC bought a new position in shares of Ambev in the first quarter worth approximately $27,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Ambev in the first quarter worth $28,000. Hedge funds and other institutional investors own 8.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABEV. HSBC reaffirmed a "hold" rating on shares of Ambev in a report on Friday, August 1st. UBS Group lowered their price objective on Ambev from $2.50 to $2.20 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Finally, Hsbc Global Res upgraded Ambev to a "hold" rating in a research report on Friday, August 1st. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $2.35.

Ambev Stock Down 0.7%

ABEV opened at $2.22 on Thursday. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.63. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02. The firm has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $2.36. The company has a market capitalization of $34.90 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.85.

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

Ambev Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Tuesday, October 14th. Investors of record on Monday, August 11th will be given a $0.023 dividend. This is a boost from Ambev's previous -- dividend of $0.02. This represents a yield of 660.0%. The ex-dividend date is Monday, August 11th. Ambev's dividend payout ratio (DPR) is presently 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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