Ambev S.A. (NYSE:ABEV) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,198,300 shares of the company's stock after selling 1,166,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.21% of Ambev worth $61,417,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ABEV. Insight Inv LLC purchased a new stake in Ambev in the fourth quarter valued at approximately $25,000. Naviter Wealth LLC purchased a new stake in shares of Ambev in the 4th quarter worth about $29,000. Exchange Traded Concepts LLC purchased a new position in shares of Ambev during the fourth quarter valued at about $30,000. Angeles Wealth Management LLC purchased a new position in shares of Ambev in the 4th quarter valued at approximately $36,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Ambev during the 3rd quarter valued at $48,000. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

ABEV remained flat at $2.29 on Tuesday. 7,146,547 shares of the company traded hands, compared to its average volume of 26,895,657. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The stock's 50-day simple moving average is $2.15 and its two-hundred day simple moving average is $2.12. Ambev S.A. has a 12-month low of $1.76 and a 12-month high of $2.56. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 5.80 and a beta of 0.68.

Ambev (NYSE:ABEV - Get Free Report) last released its 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 return on equity of 16.12% and a net margin of 17.02%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $22.42 billion. On average, analysts predict that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Tuesday, March 18th were given a dividend of $0.0221 per share. This represents a $0.09 annualized dividend and a yield of 3.85%. The ex-dividend date was Tuesday, March 18th. Ambev's dividend payout ratio (DPR) is presently 52.94%.

Wall Street Analysts Forecast Growth

ABEV has been the subject of several research analyst reports. Morgan Stanley downgraded Ambev from an "equal weight" rating to an "underweight" rating in a report on Monday, April 7th. Barclays reduced their price target on shares of Ambev from $2.50 to $2.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Bank of America downgraded shares of Ambev from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. StockNews.com began coverage on shares of Ambev in a research note on Tuesday. They issued a "buy" rating for the company. Finally, Citigroup reiterated a "neutral" rating on shares of Ambev in a report on Wednesday, January 22nd. 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.