Oldfield Partners LLP Trims Position in Ambev S.A. (NYSE:ABEV)

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 trimmed its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 21.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,634,800 shares of the company's stock after selling 728,500 shares during the period. Ambev accounts for about 1.8% of Oldfield Partners LLP's investment portfolio, making the stock its 10th largest position. Oldfield Partners LLP's holdings in Ambev were worth $6,139,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in shares of Ambev by 51.4% during the fourth quarter. NewEdge Advisors LLC now owns 17,084 shares of the company's stock worth $32,000 after acquiring an additional 5,798 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in Ambev by 22.1% during the first quarter. Insigneo Advisory Services LLC now owns 38,457 shares of the company's stock worth $90,000 after acquiring an additional 6,949 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its stake in Ambev by 27.8% in the first quarter. Onyx Bridge Wealth Group LLC now owns 37,368 shares of the company's stock valued at $87,000 after buying an additional 8,137 shares during the period. Stifel Financial Corp raised its stake in Ambev by 1.0% in the fourth quarter. Stifel Financial Corp now owns 810,379 shares of the company's stock valued at $1,499,000 after buying an additional 8,363 shares during the period. Finally, Red Door Wealth Management LLC grew its position in shares of Ambev by 81.0% in the first quarter. Red Door Wealth Management LLC now owns 19,000 shares of the company's stock valued at $44,000 after purchasing an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 8.13% of the company's stock.

Ambev Trading Down 3.3%

Ambev stock traded down $0.08 during mid-day trading on Monday, hitting $2.31. The company's stock had a trading volume of 28,623,049 shares, compared to its average volume of 28,986,068. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.80. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74. The business has a 50 day moving average price of $2.43 and a 200-day moving average price of $2.26. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.63.

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

Ambev Cuts Dividend

The business also recently announced a -- dividend, which was paid on Thursday, July 17th. Investors of record on Monday, May 19th were issued a $0.0219 dividend. This represents a yield of 5%. The ex-dividend date was Monday, May 19th. Ambev's dividend payout ratio is currently 68.75%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group increased their price target on Ambev from $2.60 to $2.70 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Morgan Stanley cut shares of Ambev from an "equal weight" rating to an "underweight" rating in a research report on Monday, April 7th. Wall Street Zen started coverage on shares of Ambev in a report on Wednesday, April 23rd. They issued a "buy" rating on the stock. Finally, 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 report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Ambev has an average rating of "Hold" and an average target price 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.