Pzena Investment Management LLC decreased its holdings in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 24.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,835,615 shares of the company's stock after selling 4,515,474 shares during the period. Pzena Investment Management LLC owned about 0.09% of Ambev worth $25,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MCIA Inc purchased a new position in shares of Ambev during the 3rd quarter valued at approximately $25,000. Insight Inv LLC purchased a new position in shares of Ambev during the 4th quarter valued at approximately $25,000. Wealthstream Advisors Inc. acquired a new position in Ambev in the 3rd quarter valued at $29,000. Naviter Wealth LLC acquired a new position in Ambev in the 4th quarter valued at $29,000. Finally, Exchange Traded Concepts LLC acquired a new position in Ambev in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 8.13% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Bank of America downgraded Ambev from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Citigroup reissued a "neutral" rating on shares of Ambev in a research note on Wednesday, January 22nd. Barclays reduced their price objective 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. Finally, StockNews.com assumed coverage on Ambev in a research note on Monday, January 27th. They issued a "buy" rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $2.45.
Check Out Our Latest Research Report on Ambev
Ambev Trading Up 2.9 %
Ambev stock traded up $0.07 during midday trading on Friday, reaching $2.31. 52,517,776 shares of the stock traded hands, compared to its average volume of 25,391,251. The company has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $2.12. Ambev S.A. has a 12-month low of $1.76 and a 12-month high of $2.56. The firm has a market cap of $36.31 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 5.80 and a beta of 0.94. 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 (NYSE:ABEV - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $22.42 billion. Ambev had a net margin of 17.02% and a return on equity of 16.12%. Research analysts expect that Ambev S.A. will post 0.18 earnings per share for the current fiscal 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 given a dividend of $0.0221 per share. This represents a $0.09 annualized dividend and a yield of 3.83%. The ex-dividend date is Tuesday, March 18th. Ambev's dividend payout ratio (DPR) is 52.94%.
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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