CORDA Investment Management LLC. purchased a new position in Ambev S.A. (NYSE:ABEV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,479,555 shares of the company's stock, valued at approximately $11,987,000.
A number of other hedge funds also recently bought and sold shares of the business. MCIA Inc acquired a new stake in shares of Ambev in the third quarter valued at about $25,000. Insight Inv LLC purchased a new position in Ambev in the 4th quarter valued at about $25,000. Wealthstream Advisors Inc. acquired a new stake in Ambev in the 3rd quarter worth about $29,000. Exchange Traded Concepts LLC purchased a new stake in Ambev during the 4th quarter worth approximately $30,000. Finally, BSW Wealth Partners purchased a new stake in Ambev during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 8.13% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ABEV. Barclays dropped their price target on Ambev from $2.50 to $2.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. StockNews.com assumed coverage on shares of Ambev in a report on Monday, January 27th. They issued a "buy" rating for the company. Bank of America cut Ambev from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Ambev in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.45.
Read Our Latest Stock Analysis on ABEV
Ambev Trading Up 0.5 %
Shares of Ambev stock traded up $0.01 during mid-day trading on Monday, hitting $2.08. The stock had a trading volume of 13,136,645 shares, compared to its average volume of 38,580,281. The firm has a market cap of $32.77 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 5.80 and a beta of 1.04. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $1.86 and a two-hundred day moving average of $2.13. Ambev S.A. has a 12-month low of $1.76 and a 12-month high of $2.58.
Ambev (NYSE:ABEV - Get Free Report) last posted its earnings results 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). The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. Sell-side analysts forecast that Ambev S.A. will post 0.18 earnings per share for the current 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 paid a dividend of $0.0221 per share. This represents a $0.09 annualized dividend and a yield of 4.24%. The ex-dividend date is Tuesday, March 18th. Ambev's dividend payout ratio (DPR) is presently 35.29%.
About Ambev
(
Free Report)
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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