Ambev (NYSE:ABEV) Announces Quarterly Earnings Results, Meets Estimates

Ambev (NYSE:ABEV) released its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04, FiscalAI reports. Ambev had a return on equity of 16.63% and a net margin of 17.69%.The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $4.05 billion.

Ambev Trading Down 0.2%

Shares of ABEV stock traded down $0.01 during trading hours on Thursday, reaching $3.10. 59,898,597 shares of the stock traded hands, compared to its average volume of 25,677,977. The company has a quick ratio of 0.78, a current ratio of 1.03 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $48.78 billion, a PE ratio of 16.29, a PEG ratio of 1.83 and a beta of 0.64. Ambev has a 1-year low of $2.10 and a 1-year high of $3.45. The business has a fifty day moving average price of $3.14 and a 200 day moving average price of $3.03.

Ambev Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.0092 per share. The ex-dividend date is Wednesday, June 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. Ambev’s payout ratio is currently 10.53%.

Insider Buying and Selling

In other Ambev news, insider Paulo Andre Zagman sold 136,250 shares of Ambev stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $3.41, for a total transaction of $464,612.50. Following the transaction, the insider directly owned 230,535 shares in the company, valued at approximately $786,124.35. The trade was a 37.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of Ambev

A number of hedge funds have recently modified their holdings of ABEV. Integrated Wealth Concepts LLC acquired a new position in Ambev during the first quarter valued at $26,000. Millennium Management LLC boosted its position in Ambev by 62.5% during the 1st quarter. Millennium Management LLC now owns 2,399,472 shares of the company’s stock worth $5,591,000 after acquiring an additional 922,566 shares during the period. Goldman Sachs Group Inc. boosted its position in Ambev by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,000,107 shares of the company’s stock worth $11,650,000 after acquiring an additional 582,153 shares during the period. Focus Partners Wealth purchased a new position in Ambev during the 1st quarter valued at about $33,000. Finally, Acadian Asset Management LLC purchased a new position in Ambev during the 1st quarter valued at about $264,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABEV shares. Scotiabank lowered shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, July 15th. UBS Group raised their target price on shares of Ambev from $2.65 to $2.90 and gave the stock a “sell” rating in a report on Thursday, May 14th. Weiss Ratings cut Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Barclays raised their price objective on Ambev from $3.00 to $3.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered Ambev from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ambev has a consensus rating of “Reduce” and a consensus target price of $3.09.

Ambev Company Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.