Stifel Financial Corp Grows Stock Position in Ambev S.A. (NYSE:ABEV)

Stifel Financial Corp boosted its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 298.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 802,016 shares of the company's stock after buying an additional 600,545 shares during the quarter. Stifel Financial Corp's holdings in Ambev were worth $1,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its position in shares of Ambev by 311.9% in the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company's stock valued at $1,575,000 after buying an additional 581,880 shares in the last quarter. Raymond James & Associates increased its holdings in Ambev by 154.0% during the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company's stock valued at $3,701,000 after acquiring an additional 1,094,629 shares in the last quarter. Bank of New York Mellon Corp raised its position in Ambev by 26.5% during the second quarter. Bank of New York Mellon Corp now owns 947,932 shares of the company's stock worth $1,943,000 after acquiring an additional 198,462 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ambev by 323.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company's stock valued at $20,322,000 after purchasing an additional 7,570,842 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Ambev by 49.3% in the second quarter. Atomi Financial Group Inc. now owns 46,272 shares of the company's stock valued at $95,000 after purchasing an additional 15,271 shares during the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Ambev in a research report on Friday, October 18th. They set a "buy" rating for the company.

Ambev Price Performance

ABEV stock traded up $0.03 during trading on Friday, hitting $2.06. The stock had a trading volume of 27,785,928 shares, compared to its average volume of 19,920,383. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. 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 company's 50 day moving average price is $2.22 and its two-hundred day moving average price is $2.23. Ambev S.A. has a 1-year low of $2.01 and a 1-year high of $2.94.

Ambev Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd will be given a $0.0414 dividend. This represents a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, December 23rd. Ambev's dividend payout ratio is presently 38.89%.

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.