Advisory Services Network LLC reduced its stake in shares of Ambev S.A. (NYSE:ABEV) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,519 shares of the company’s stock after selling 10,337 shares during the quarter. Advisory Services Network LLC’s holdings in Ambev were worth $184,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ABEV. American Century Companies Inc. raised its stake in Ambev by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 283,509 shares of the company’s stock worth $975,000 after acquiring an additional 24,932 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Ambev during the 2nd quarter worth $280,000. Rockefeller Capital Management L.P. raised its stake in Ambev by 1,673.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 11,403 shares of the company’s stock worth $39,000 after acquiring an additional 10,760 shares in the last quarter. Atria Investments LLC raised its stake in Ambev by 11.9% during the 2nd quarter. Atria Investments LLC now owns 442,477 shares of the company’s stock worth $1,522,000 after acquiring an additional 47,112 shares in the last quarter. Finally, Ethic Inc. raised its stake in Ambev by 49.3% during the 2nd quarter. Ethic Inc. now owns 26,612 shares of the company’s stock worth $92,000 after acquiring an additional 8,787 shares in the last quarter. Hedge funds and other institutional investors own 8.68% of the company’s stock.
Shares of NYSE:ABEV opened at $2.75 on Friday. The company has a market cap of $43.28 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.44 and a beta of 1.18. The firm’s 50-day simple moving average is $2.85 and its 200-day simple moving average is $3.00. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. Ambev S.A. has a fifty-two week low of $2.38 and a fifty-two week high of $3.95.
The company also recently announced a — dividend, which was paid on Thursday, January 6th. Stockholders of record on Tuesday, December 21st were issued a $0.0839 dividend. This is an increase from Ambev’s previous — dividend of $0.05. The ex-dividend date was Monday, December 20th. This represents a dividend yield of 3.7%. Ambev’s payout ratio is presently 22.22%.
Several research analysts have issued reports on ABEV shares. Bank of America raised shares of Ambev from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $3.00 to $3.50 in a research report on Wednesday, November 3rd. Barclays raised shares of Ambev from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $4.00 to $3.50 in a research report on Wednesday, October 6th. Finally, Zacks Investment Research downgraded shares of Ambev from a “buy” rating to a “hold” rating in a research report on Tuesday, January 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.46.
Ambev SA engages in the production, distribution, and sale of beverages. Its products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. It operates through the following geographical segments: Brazil, and Central America and The Caribbean (CAC), and Canada. The Brazil segment focuses on the beer sales division and the NAB sales division.
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