Russell Investments Group Ltd. Has $37.68 Million Position in Ambev S.A. $ABEV

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Ambev S.A. by 105.8%, acquiring a total of 16,170,388 shares valued at approximately $37.68 million.
• Ambev recently announced a dividend of $0.023 per share, reflecting an increase from the prior $0.02 and resulting in a 660.0% yield.
• The stock has shown a 12-month price range between $1.76 and $2.63, with recent trading around $2.19 per share as of last Friday.

Russell Investments Group Ltd. boosted its position in Ambev S.A. (NYSE:ABEV - Free Report) by 105.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,170,388 shares of the company's stock after purchasing an additional 8,312,561 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Ambev worth $37,677,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Ambev by 468.4% during the 1st quarter. GAMMA Investing LLC now owns 10,998 shares of the company's stock worth $26,000 after acquiring an additional 9,063 shares during the period. Perigon Wealth Management LLC bought a new stake in Ambev during the first quarter worth approximately $27,000. U.S. Capital Wealth Advisors LLC acquired a new position in Ambev during the first quarter worth about $28,000. M&T Bank Corp acquired a new stake in Ambev in the 1st quarter valued at about $30,000. Finally, R Squared Ltd acquired a new position in shares of Ambev in the 1st quarter worth approximately $33,000. Institutional investors own 8.13% of the company's stock.

Analyst Upgrades and Downgrades

ABEV has been the subject of a number of recent research reports. HSBC reiterated a "hold" rating on shares of Ambev in a research report on Friday, August 1st. UBS Group lifted their target price on Ambev from $2.60 to $2.70 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Hsbc Global Res raised Ambev to a "hold" rating in a research report on Friday, August 1st. Wall Street Zen assumed coverage on shares of Ambev in a research note on Wednesday, April 23rd. They set a "buy" rating for the company. Finally, Barclays boosted their price objective on shares of Ambev from $2.00 to $2.50 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $2.60.

Ambev Stock Down 1.1%

Shares of NYSE:ABEV traded down $0.0250 during midday trading on Tuesday, hitting $2.1650. The stock had a trading volume of 13,623,759 shares, compared to its average volume of 32,966,086. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.63. The business's 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.31. The company has a market cap of $34.12 billion, a P/E ratio of 13.53, a PEG ratio of 2.39 and a beta of 0.74.

Ambev (NYSE:ABEV - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $3.59 billion during the quarter, compared to analysts' expectations of $21.84 billion. Ambev had a net margin of 16.18% and a return on equity of 15.39%. On average, sell-side analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Increases Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Monday, August 11th will be paid a $0.023 dividend. This represents a dividend yield of 660.0%. The ex-dividend date is Monday, August 11th. This is a positive change from Ambev's previous -- dividend of $0.02. Ambev's dividend payout ratio is currently 25.00%.

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.