Oldfield Partners LLP Trims Stock Position in Ambev S.A. (NYSE:ABEV)

Oldfield Partners LLP trimmed its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 14.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,363,300 shares of the company's stock after selling 558,800 shares during the period. Ambev accounts for approximately 1.8% of Oldfield Partners LLP's holdings, making the stock its 11th largest position. Oldfield Partners LLP's holdings in Ambev were worth $6,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Management Group Inc. increased its stake in Ambev by 43.8% in the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company's stock worth $32,765,000 after buying an additional 4,087,442 shares in the last quarter. Altrius Capital Management Inc purchased a new stake in Ambev in the 3rd quarter worth $8,630,000. Allspring Global Investments Holdings LLC increased its stake in Ambev by 33.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company's stock worth $32,296,000 after buying an additional 3,322,952 shares in the last quarter. Meritage Portfolio Management purchased a new stake in Ambev in the 3rd quarter worth $4,645,000. Finally, Seafarer Capital Partners LLC increased its stake in Ambev by 6.3% in the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company's stock worth $73,368,000 after buying an additional 1,770,000 shares in the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Trading Down 0.3 %

Shares of NYSE:ABEV traded down $0.01 during trading on Friday, reaching $1.86. The company's stock had a trading volume of 15,387,191 shares, compared to its average volume of 48,620,312. The company has a current ratio of 1.20, a quick ratio of 0.89 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. The firm's 50 day simple moving average is $1.97 and its two-hundred day simple moving average is $2.17. The stock has a market capitalization of $29.22 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 5.50 and a beta of 1.05.

Ambev Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Ambev from $2.50 to $2.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 21st. Citigroup reissued a "neutral" rating on shares of Ambev in a report on Wednesday, January 22nd. StockNews.com began coverage on shares of Ambev in a report on Monday, January 27th. They set a "buy" rating for the company. Finally, Bank of America downgraded shares of Ambev from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.