State Street Corp Acquires 878,900 Shares of Ambev S.A. (NYSE:ABEV)

State Street Corp grew its holdings in Ambev S.A. (NYSE:ABEV) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,425,374 shares of the company’s stock after acquiring an additional 878,900 shares during the period. State Street Corp owned 0.07% of Ambev worth $25,438,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in Ambev by 154.0% in the second quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Ambev by 26.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 947,932 shares of the company’s stock worth $1,943,000 after acquiring an additional 198,462 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Ambev by 323.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock worth $20,322,000 after purchasing an additional 7,570,842 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Ambev by 49.3% during the 2nd quarter. Atomi Financial Group Inc. now owns 46,272 shares of the company’s stock valued at $95,000 after purchasing an additional 15,271 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Ambev by 25.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 555,617 shares of the company’s stock valued at $1,139,000 after buying an additional 112,190 shares during the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Ambev in a research report on Friday, October 18th. They set a “buy” rating on the stock.

Ambev Trading Up 1.5 %

Ambev stock opened at $2.06 on Monday. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $2.94. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. The business has a 50 day moving average price of $2.21 and a two-hundred day moving average price of $2.23. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Ambev Cuts Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, January 9th. Investors of record on Monday, December 23rd will be given a $0.0414 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a yield of 1.93%. Ambev’s dividend payout ratio (DPR) is currently 38.89%.

Ambev 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.