Walleye Capital LLC Boosts Stock Holdings in Ambev S.A. $ABEV

Key Points

• Walleye Capital LLC significantly increased its stake in Ambev S.A. by 538.4%, now owning over 5 million shares valued at $12.2 million.
• Several institutional investors have also boosted their positions, with Bank of America Corp DE growing its holdings by 201.7% to nearly 26 million shares worth approximately $48.3 million.
• Ambev announced a dividend increase from $0.02 to $0.023 per share, indicating a strong dividend yield of 660.0%.

Walleye Capital LLC increased its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 538.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,242,702 shares of the company's stock after acquiring an additional 4,421,534 shares during the quarter. Walleye Capital LLC's holdings in Ambev were worth $12,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABEV. Talaria Asset Management Pty Ltd purchased a new stake in Ambev in the 4th quarter worth $38,602,000. Bank of America Corp DE grew its holdings in shares of Ambev by 201.7% during the fourth quarter. Bank of America Corp DE now owns 26,087,675 shares of the company's stock worth $48,262,000 after buying an additional 17,440,564 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Ambev by 329.6% during the fourth quarter. Two Sigma Advisers LP now owns 16,354,000 shares of the company's stock worth $30,255,000 after buying an additional 12,546,800 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Ambev by 202.5% during the fourth quarter. Two Sigma Investments LP now owns 13,181,359 shares of the company's stock worth $24,386,000 after buying an additional 8,823,911 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings 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 buying an additional 8,312,561 shares in the last quarter. Hedge funds and other institutional investors own 8.13% of the company's stock.

Wall Street Analysts Forecast Growth

ABEV has been the subject of a number of research reports. HSBC reaffirmed a "hold" rating on shares of Ambev in a report on Friday, August 1st. Hsbc Global Res raised shares of Ambev to a "hold" rating in a report on Friday, August 1st. UBS Group dropped their target price on shares of Ambev from $2.50 to $2.20 and set a "neutral" rating for the company in a report on Wednesday, August 20th. Finally, Barclays boosted their price target 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. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ambev currently has a consensus rating of "Reduce" and a consensus target price of $2.35.

Ambev Trading Up 1.6%

NYSE ABEV opened at $2.2250 on Monday. The firm's 50-day moving average is $2.33 and its two-hundred day moving average is $2.32. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.63. 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 capitalization of $35.06 billion, a P/E ratio of 13.91, a PEG ratio of 2.43 and a beta of 0.74.

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

Ambev Increases Dividend

The firm 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. This is a boost from Ambev's previous -- dividend of $0.02. This represents a dividend yield of 660.0%. The ex-dividend date of this dividend is Monday, August 11th. Ambev's dividend payout ratio is currently 31.25%.

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.

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