Amundi Sells 196,393 Shares of Ambev S.A. (NYSE:ABEV)

Amundi cut its position in shares of Ambev S.A. (NYSE:ABEV) by 45.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 237,079 shares of the company’s stock after selling 196,393 shares during the quarter. Amundi’s holdings in Ambev were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABEV. CORDA Investment Management LLC. bought a new stake in shares of Ambev during the fourth quarter valued at approximately $11,987,000. Allspring Global Investments Holdings LLC boosted its position in shares of Ambev by 39.9% during the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ambev during the fourth quarter valued at approximately $3,523,000. Itau Unibanco Holding S.A. bought a new stake in shares of Ambev during the third quarter valued at approximately $3,259,000. Finally, Jane Street Group LLC boosted its position in shares of Ambev by 132.9% during the third quarter. Jane Street Group LLC now owns 1,976,147 shares of the company’s stock valued at $4,822,000 after purchasing an additional 1,127,719 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

NYSE:ABEV opened at $2.36 on Friday. The firm has a market capitalization of $37.10 billion, a PE ratio of 13.08, a P/E/G ratio of 5.80 and a beta of 0.94. 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 stock has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $2.12. Ambev S.A. has a 52-week low of $1.76 and a 52-week high of $2.56.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ambev had a net margin of 17.02% and a return on equity of 16.12%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $22.42 billion. Analysts forecast that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0221 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.09 dividend on an annualized basis and a yield of 3.75%. Ambev’s dividend payout ratio (DPR) is presently 52.94%.

Analyst Upgrades and Downgrades

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

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.