Freestone Capital Holdings LLC reduced its holdings in Ambev S.A. (NYSE:ABEV - Free Report) by 86.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,190 shares of the company's stock after selling 375,816 shares during the period. Freestone Capital Holdings LLC's holdings in Ambev were worth $111,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CORDA Investment Management LLC. purchased a new stake in shares of Ambev in the 4th quarter valued at approximately $11,987,000. Allspring Global Investments Holdings LLC boosted its holdings in 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 purchasing an additional 5,283,746 shares in the last quarter. Altrius Capital Management Inc acquired a new position in shares of Ambev during the 3rd quarter worth $8,630,000. Raymond James Financial Inc. purchased a new position in Ambev in the fourth quarter valued at about $3,523,000. Finally, Meritage Portfolio Management acquired a new position in shares of Ambev during the 3rd quarter worth $4,645,000. 8.13% of the stock is owned by hedge funds and other institutional investors.
Ambev Price Performance
NYSE ABEV traded up $0.02 during trading on Wednesday, reaching $2.21. 23,344,084 shares of the company traded hands, compared to its average volume of 25,144,295. The stock's 50 day moving average price is $1.90 and its two-hundred day moving average price is $2.12. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.57. The company has a market cap of $34.74 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 5.80 and a beta of 0.94. 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 released its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $22.42 billion. Ambev had a net margin of 17.02% and a return on equity of 16.12%. As a group, analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.
Ambev Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be paid a $0.0221 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, March 18th. Ambev's dividend payout ratio is currently 52.94%.
Analysts Set New Price Targets
Several research analysts recently commented on ABEV shares. Bank of America lowered shares of Ambev from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Citigroup reissued a "neutral" rating on shares of Ambev in a report on Wednesday, January 22nd. Barclays lowered their target price on shares of Ambev from $2.50 to $2.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com assumed coverage on shares of Ambev in a report on Monday, January 27th. They set a "buy" rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Ambev presently has an average rating of "Hold" and a consensus target price of $2.45.
View Our Latest Stock Report on Ambev
Ambev Company Profile
(
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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