JPMorgan Chase & Co. Lowers Stake in Ambev S.A. (NYSE:ABEV)

JPMorgan Chase & Co. lessened its position in Ambev S.A. (NYSE:ABEV) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,702 shares of the company’s stock after selling 14,009 shares during the period. JPMorgan Chase & Co.’s holdings in Ambev were worth $197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABEV. Massachusetts Financial Services Co. MA raised its holdings in Ambev by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock valued at $104,688,000 after acquiring an additional 226,238 shares during the last quarter. Seafarer Capital Partners LLC grew its position in shares of Ambev by 6.3% in the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after purchasing an additional 1,770,000 shares during the period. Private Management Group Inc. grew its position in shares of Ambev by 43.8% in the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after purchasing an additional 4,087,442 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Ambev by 33.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock valued at $32,296,000 after purchasing an additional 3,322,952 shares during the last quarter. Finally, State Street Corp lifted its position in Ambev by 9.2% during the third quarter. State Street Corp now owns 10,425,374 shares of the company’s stock worth $25,438,000 after buying an additional 878,900 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ABEV. Bank of America downgraded shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Citigroup restated a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. Barclays cut their price target on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, StockNews.com began coverage on shares of Ambev in a research note on Monday, January 27th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.45.

Ambev Stock Down 0.3 %

Shares of Ambev stock opened at $1.86 on Friday. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.72. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 5.50 and a beta of 1.05. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $1.98 and a 200 day moving average price of $2.17.

Ambev Cuts Dividend

The business also recently announced an annual dividend, which was paid on Thursday, January 9th. Investors of record on Monday, December 23rd were issued a dividend of $0.0414 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s payout ratio is currently 38.89%.

About Ambev

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.