Assenagon Asset Management S.A. Sells 671,394 Shares of Ambev S.A. (NYSE:ABEV)

Assenagon Asset Management S.A. lowered its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 96.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,415 shares of the company's stock after selling 671,394 shares during the period. Assenagon Asset Management S.A.'s holdings in Ambev were worth $51,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP boosted its holdings in shares of Ambev by 324.8% in the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company's stock valued at $17,064,000 after purchasing an additional 6,364,592 shares in the last quarter. Private Management Group Inc. boosted its stake in Ambev by 43.8% in the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company's stock valued at $32,765,000 after buying an additional 4,087,442 shares in the last quarter. Altrius Capital Management Inc acquired a new stake in Ambev in the third quarter valued at about $8,630,000. Allspring Global Investments Holdings LLC grew its position in Ambev by 33.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company's stock valued at $32,296,000 after acquiring an additional 3,322,952 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in Ambev by 23.9% during the second quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company's stock worth $32,024,000 after acquiring an additional 2,982,621 shares in the last quarter. Institutional investors own 8.13% of the company's stock.

Ambev Trading Down 1.4 %

Shares of ABEV stock traded down $0.03 during trading hours on Friday, hitting $1.80. 68,875,890 shares of the company's stock traded hands, compared to its average volume of 39,207,908. The stock has a market cap of $28.28 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 5.44 and a beta of 1.05. The stock's 50 day simple moving average is $2.01 and its 200 day simple moving average is $2.18. The company has a quick ratio of 0.89, a current ratio of 1.20 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 $2.72.

Ambev Cuts Dividend

The business also recently declared an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were paid a $0.0414 dividend. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev's payout ratio is 38.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABEV shares. Barclays lowered 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. Citigroup reiterated a "neutral" rating on shares of Ambev in a report on Wednesday. StockNews.com started coverage on Ambev in a report on Sunday, January 19th. They set a "buy" rating on the stock. Finally, Bank of America cut Ambev from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $2.45.

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.