Ranmore Fund Management Ltd Decreases Holdings in Ambev S.A. (NYSE:ABEV)

Key Points

• Ranmore Fund Management Ltd has decreased its holdings in Ambev S.A. (NYSE:ABEV) by 19.4%, selling 800,000 shares, which now constitutes about 4.6% of their total holdings.
• Ambev recently declared a dividend of $0.023 per share, marking an increase from the previous dividend of $0.02, with a dividend yield of 660.0%.
• Several institutional investors, including Russell Investments Group Ltd. and Invesco Ltd., have significantly increased their positions in Ambev during the first quarter of this year.

Ranmore Fund Management Ltd trimmed its holdings in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 19.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,314,000 shares of the company's stock after selling 800,000 shares during the period. Ambev accounts for about 4.6% of Ranmore Fund Management Ltd's holdings, making the stock its 12th largest holding. Ranmore Fund Management Ltd's holdings in Ambev were worth $7,722,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABEV. Russell Investments Group Ltd. increased its position in shares of Ambev by 105.8% during the first quarter. Russell Investments Group Ltd. now owns 16,170,388 shares of the company's stock worth $37,677,000 after purchasing an additional 8,312,561 shares in the last quarter. Tranquilli Financial Advisor LLC increased its position in shares of Ambev by 37.3% during the first quarter. Tranquilli Financial Advisor LLC now owns 20,943 shares of the company's stock worth $49,000 after purchasing an additional 5,685 shares in the last quarter. Virtus Family Office LLC increased its position in shares of Ambev by 4.7% during the first quarter. Virtus Family Office LLC now owns 477,591 shares of the company's stock worth $1,123,000 after purchasing an additional 21,443 shares in the last quarter. Invesco Ltd. increased its position in shares of Ambev by 98.6% during the first quarter. Invesco Ltd. now owns 3,803,683 shares of the company's stock worth $8,863,000 after purchasing an additional 1,887,987 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Ambev by 17.0% during the first quarter. National Bank of Canada FI now owns 67,664 shares of the company's stock worth $157,000 after purchasing an additional 9,815 shares in the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Trading Down 0.7%

ABEV stock opened at $2.25 on Tuesday. The company has a market cap of $35.38 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.47 and a beta of 0.74. 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 business has a fifty day simple moving average of $2.38 and a 200-day simple moving average of $2.29. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.63.

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

Ambev Increases Dividend

The business also recently declared a -- dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Monday, August 11th will be given a dividend of $0.023 per share. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Ambev's previous -- dividend of $0.02. This represents a dividend yield of 660.0%. Ambev's dividend payout ratio is 68.75%.

Analyst Upgrades and Downgrades

ABEV has been the topic of several recent research reports. UBS Group boosted their price target on Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Hsbc Global Res upgraded Ambev to a "hold" rating in a research report on Friday, August 1st. Wall Street Zen initiated coverage on Ambev in a research report on Wednesday, April 23rd. They issued a "buy" rating on the stock. HSBC restated a "hold" rating on shares of Ambev in a research report on Friday, August 1st. Finally, Barclays boosted their target price on Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.60.

About Ambev

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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