Bank of New York Mellon Corp Sells 7,922 Shares of Ambev S.A. (NYSE:ABEV)

Bank of New York Mellon Corp reduced its holdings in shares of Ambev S.A. (NYSE:ABEV) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 861,275 shares of the company’s stock after selling 7,922 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ambev were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABEV. MCIA Inc bought a new stake in Ambev during the third quarter worth $25,000. Insight Inv LLC bought a new stake in Ambev during the fourth quarter worth $25,000. Exchange Traded Concepts LLC bought a new stake in Ambev during the fourth quarter worth $30,000. Angeles Wealth Management LLC bought a new stake in Ambev during the fourth quarter worth $36,000. Finally, Sendero Wealth Management LLC bought a new stake in Ambev during the fourth quarter worth $40,000. 8.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ambev Stock Performance

NYSE:ABEV opened at $2.36 on Friday. The company has a market capitalization of $37.10 billion, a P/E ratio of 13.08, a P/E/G ratio of 5.80 and a beta of 0.94. Ambev S.A. has a 1 year low of $1.76 and a 1 year high of $2.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The business has a fifty day simple moving average of $1.98 and a two-hundred day simple moving average of $2.12.

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

Ambev Cuts Dividend

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

Ambev Company Profile

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.