Arrowstreet Capital Limited Partnership Raises Stock Position in Ambev S.A. (NYSE:ABEV)

Arrowstreet Capital Limited Partnership grew its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 1,641.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,001,985 shares of the company's stock after buying an additional 17,911,122 shares during the period. Arrowstreet Capital Limited Partnership owned 0.12% of Ambev worth $35,154,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABEV. GQG Partners LLC lifted its stake in Ambev by 51.9% in the fourth quarter. GQG Partners LLC now owns 196,676,003 shares of the company's stock valued at $363,851,000 after buying an additional 67,180,274 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Ambev by 39.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,519,980 shares of the company's stock valued at $33,892,000 after acquiring an additional 5,283,746 shares during the period. Private Management Group Inc. raised its position in Ambev by 8.1% in the 4th quarter. Private Management Group Inc. now owns 14,512,234 shares of the company's stock valued at $26,848,000 after purchasing an additional 1,083,882 shares during the last quarter. RWC Asset Management LLP raised its position in Ambev by 4.4% in the 4th quarter. RWC Asset Management LLP now owns 13,063,556 shares of the company's stock valued at $24,168,000 after purchasing an additional 552,220 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its stake in Ambev by 4.7% during the 4th quarter. Kiltearn Partners LLP now owns 12,758,300 shares of the company's stock worth $23,603,000 after purchasing an additional 577,800 shares during the period. 8.13% of the stock is owned by hedge funds and other institutional investors.

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Ambev Stock Performance

NYSE:ABEV traded down $0.11 during mid-day trading on Monday, reaching $2.21. The stock had a trading volume of 42,883,278 shares, compared to its average volume of 26,602,440. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.56. The business has a 50 day simple moving average of $2.09 and a 200 day simple moving average of $2.12. The firm has a market capitalization of $34.74 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 5.80 and a beta of 0.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

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

Ambev Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0221 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.09 annualized dividend and a dividend yield of 4.00%. Ambev's payout ratio is currently 52.94%.

Wall Street Analysts Forecast Growth

ABEV has been the topic of a number of recent research reports. Morgan Stanley lowered shares of Ambev from an "equal weight" rating to an "underweight" rating in a research note on Monday. Barclays dropped their price target on Ambev from $2.50 to $2.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. StockNews.com started coverage on Ambev in a research report on Monday, January 27th. They set a "buy" rating for the company. Citigroup reiterated a "neutral" rating on shares of Ambev in a research note on Wednesday, January 22nd. Finally, Bank of America cut Ambev from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.45.

Ambev 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.