First Eagle Investment Management LLC Sells 2,679,916 Shares of Ambev S.A. (NYSE:ABEV)

First Eagle Investment Management LLC trimmed its holdings in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,524,587 shares of the company's stock after selling 2,679,916 shares during the period. First Eagle Investment Management LLC owned about 2.16% of Ambev worth $628,120,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MCIA Inc acquired a new position in shares of Ambev during the 3rd quarter worth about $25,000. Wealthstream Advisors Inc. acquired a new stake in Ambev in the 3rd quarter valued at about $29,000. Insight Inv LLC acquired a new stake in Ambev in the 4th quarter valued at about $25,000. Mesirow Financial Investment Management Inc. acquired a new stake in Ambev in the 3rd quarter valued at about $35,000. Finally, Naviter Wealth LLC acquired a new stake in Ambev in the 4th quarter valued at about $29,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABEV has been the subject of several recent analyst reports. Citigroup reiterated a "neutral" rating on shares of Ambev in a research note on Wednesday, January 22nd. StockNews.com initiated coverage on shares of Ambev in a research note on Monday, January 27th. They issued a "buy" rating for the company. Bank of America downgraded shares of Ambev from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Finally, Barclays cut their price objective on shares of Ambev from $2.50 to $2.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.45.

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Ambev Stock Performance

ABEV stock traded up $0.01 during mid-day trading on Tuesday, hitting $2.35. 34,310,711 shares of the company were exchanged, compared to its average volume of 25,645,420. The business has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $2.12. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $36.94 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 5.80 and a beta of 0.94. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.56.

Ambev (NYSE:ABEV - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ambev had a return on equity of 16.12% and a net margin of 17.02%. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $22.42 billion. On average, equities analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.0221 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.09 annualized dividend and a dividend yield of 3.76%. Ambev's dividend payout ratio is presently 52.94%.

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.