Blue Trust Inc. Reduces Stake in Ambev S.A. (NYSE:ABEV)

Blue Trust Inc. reduced its stake in shares of Ambev S.A. (NYSE:ABEV) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,700 shares of the company’s stock after selling 18,547 shares during the quarter. Blue Trust Inc.’s holdings in Ambev were worth $208,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ABEV. Allspring Global Investments Holdings LLC increased its position in shares of Ambev by 39.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,519,980 shares of the company’s stock valued at $33,892,000 after purchasing an additional 5,283,746 shares during the last quarter. Angeles Wealth Management LLC bought a new position in Ambev during the fourth quarter valued at $36,000. Stephens Inc. AR increased its position in Ambev by 3.6% during the fourth quarter. Stephens Inc. AR now owns 173,066 shares of the company’s stock valued at $320,000 after acquiring an additional 6,078 shares during the last quarter. Private Management Group Inc. increased its position in Ambev by 8.1% during the fourth quarter. Private Management Group Inc. now owns 14,512,234 shares of the company’s stock valued at $26,848,000 after acquiring an additional 1,083,882 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Ambev by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 913,104 shares of the company’s stock valued at $1,689,000 after acquiring an additional 20,837 shares during the last quarter. 8.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABEV shares. Barclays cut their price objective on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Bank of America cut shares of Ambev from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Citigroup reiterated a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. Finally, StockNews.com started coverage on shares of Ambev in a research report on Monday, January 27th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambev has a consensus rating of “Hold” and an average target price of $2.45.

Ambev Trading Down 0.8 %

NYSE ABEV opened at $1.90 on Thursday. The company’s 50-day moving average price is $1.88 and its 200-day moving average price is $2.15. 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 stock has a market cap of $29.85 billion, a PE ratio of 10.53, a PEG ratio of 5.74 and a beta of 1.04. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.72.

Ambev Cuts Dividend

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