Truist Financial Corp Sells 103,764 Shares of Ambev S.A. (NYSE:ABEV)

Truist Financial Corp cut its position in Ambev S.A. (NYSE:ABEV) by 28.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,268 shares of the company’s stock after selling 103,764 shares during the quarter. Truist Financial Corp’s holdings in Ambev were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABEV. MCIA Inc bought a new stake in Ambev in the 3rd quarter valued at $25,000. Insight Inv LLC acquired a new position in Ambev in the 4th quarter valued at $25,000. Wealthstream Advisors Inc. acquired a new position in Ambev in the 3rd quarter valued at $29,000. Exchange Traded Concepts LLC acquired a new position in Ambev in the 4th quarter valued at $30,000. Finally, BSW Wealth Partners acquired a new position in Ambev in the 3rd quarter valued at $33,000. 8.13% of the stock is currently owned by institutional investors.

Ambev Price Performance

Ambev stock opened at $2.08 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.58. The stock has a market capitalization of $32.77 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 5.80 and a beta of 1.04. The stock has a fifty day moving average of $1.86 and a 200-day moving average of $2.13.

Ambev (NYSE:ABEV) last posted 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 return on equity of 16.12% and a net margin of 17.02%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $22.42 billion. On average, sell-side analysts expect that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Tuesday, March 18th will be issued 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 dividend yield of 4.24%. Ambev’s dividend payout ratio (DPR) is currently 35.29%.

Analysts Set New Price Targets

ABEV has been the subject of several analyst reports. Barclays dropped their price objective on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. StockNews.com initiated coverage on Ambev in a report on Monday, January 27th. They issued a “buy” rating for the company. Bank of America cut Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Ambev presently has an average rating of “Hold” and a consensus price target of $2.45.

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.