Ambev S.A. (NYSE:ABEV) Stock Position Cut by Oldfield Partners LLP

Key Points

• Oldfield Partners LLP reduced its stake in Ambev S.A. by 21.7%, holding 2,634,800 shares worth approximately $6.14 million, making it the firm's 10th largest holding.
• Ambev recently declared a dividend cut, with an ex-dividend date on May 19, and reported a net margin of 15.76% with earnings of $0.04 per share, meeting analysts' expectations.
• Analyst opinions on Ambev show a mixed outlook, with one firm rating it as a "buy" and others maintaining "hold" or "underweight" ratings, reflecting diverse sentiments among institutional investors.

Oldfield Partners LLP reduced its position in Ambev S.A. (NYSE:ABEV - Free Report) by 21.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,634,800 shares of the company's stock after selling 728,500 shares during the quarter. Ambev comprises approximately 1.8% of Oldfield Partners LLP's portfolio, making the stock its 10th biggest position. Oldfield Partners LLP's holdings in Ambev were worth $6,139,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its position in Ambev by 201.7% in the fourth quarter. Bank of America Corp DE now owns 26,087,675 shares of the company's stock valued at $48,262,000 after acquiring an additional 17,440,564 shares during the period. Talaria Asset Management Pty Ltd acquired a new position in shares of Ambev in the fourth quarter valued at approximately $38,602,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ambev by 1,641.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 19,001,985 shares of the company's stock worth $35,154,000 after buying an additional 17,911,122 shares in the last quarter. Brandywine Global Investment Management LLC increased its stake in Ambev by 5.0% during the 4th quarter. Brandywine Global Investment Management LLC now owns 18,614,210 shares of the company's stock valued at $34,436,000 after purchasing an additional 880,763 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Ambev by 329.6% during the 4th quarter. Two Sigma Advisers LP now owns 16,354,000 shares of the company's stock valued at $30,255,000 after buying an additional 12,546,800 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ABEV. Barclays boosted their target price on shares of Ambev from $2.00 to $2.50 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen initiated coverage on shares of Ambev in a report on Wednesday, April 23rd. They issued a "buy" rating on the stock. Morgan Stanley lowered shares of Ambev from an "equal weight" rating to an "underweight" rating in a report on Monday, April 7th. Finally, UBS Group increased their target price on Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $2.60.

Ambev Stock Performance

Shares of NYSE:ABEV traded down $0.04 during midday trading on Wednesday, hitting $2.31. The company's stock had a trading volume of 20,388,913 shares, compared to its average volume of 33,441,809. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.63. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.44 and a beta of 0.74. 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 stock's 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.26.

Ambev (NYSE:ABEV - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Ambev had a net margin of 15.76% and a return on equity of 14.74%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $22.40 billion. As a group, research analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, May 19th were given a dividend of $0.0219 per share. This represents a yield of 5%. The ex-dividend date of this dividend was Monday, May 19th. Ambev's payout ratio is 68.75%.

Ambev 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.