Oppenheimer Asset Management Inc. Sells 618,695 Shares of Ambev S.A. (NYSE:ABEV)

Oppenheimer Asset Management Inc. lowered its position in Ambev S.A. (NYSE:ABEV - Free Report) by 72.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 237,038 shares of the company's stock after selling 618,695 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Ambev were worth $552,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in 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 period. Generation Capital Management LLC purchased a new stake in Ambev during the 4th quarter valued at approximately $28,000. Naviter Wealth LLC purchased a new stake in Ambev during the 4th quarter valued at approximately $29,000. 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 valued at $32,000 after buying an additional 5,798 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Ambev in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 8.13% of the company's stock.

Ambev Price Performance

Ambev stock traded down $0.01 during mid-day trading on Tuesday, reaching $2.41. 4,241,698 shares of the company's stock traded hands, compared to its average volume of 34,046,223. The stock has a 50 day moving average of $2.47 and a two-hundred day moving average of $2.19. 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 company has a market cap of $37.90 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 2.50 and a beta of 0.76. 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 issued its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $22.40 billion. Ambev had a return on equity of 14.74% and a net margin of 15.76%. Equities analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

The business also recently declared a -- dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, May 19th will be issued a dividend of $0.0219 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a yield of 5%. Ambev's payout ratio is presently 68.75%.

Analyst Ratings Changes

ABEV has been the subject of several research analyst reports. UBS Group raised their target price on shares of Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen started coverage on Ambev in a research report on Wednesday, April 23rd. They set a "buy" rating for the company. Barclays lifted their target price on Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Morgan Stanley lowered Ambev from an "equal weight" rating to an "underweight" rating in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $2.60.

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.