Ninety One UK Ltd Reduces Stake in Ambev S.A. $ABEV

Ninety One UK Ltd reduced its stake in shares of Ambev S.A. (NYSE:ABEV) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,799,396 shares of the company’s stock after selling 292,088 shares during the quarter. Ninety One UK Ltd’s holdings in Ambev were worth $6,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABEV. Signaturefd LLC boosted its holdings in shares of Ambev by 63.2% in the 2nd quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock worth $31,000 after purchasing an additional 4,924 shares during the period. Traveka Wealth LLC increased its position in Ambev by 65.7% during the second quarter. Traveka Wealth LLC now owns 17,324 shares of the company’s stock valued at $42,000 after acquiring an additional 6,868 shares during the last quarter. Jeppson Wealth Management LLC increased its position in Ambev by 7.5% during the second quarter. Jeppson Wealth Management LLC now owns 75,205 shares of the company’s stock valued at $181,000 after acquiring an additional 5,250 shares during the last quarter. Alhambra Investment Management LLC bought a new stake in shares of Ambev in the 2nd quarter worth about $110,000. Finally, Ballentine Partners LLC lifted its holdings in shares of Ambev by 105.0% in the 2nd quarter. Ballentine Partners LLC now owns 73,900 shares of the company’s stock worth $178,000 after acquiring an additional 37,847 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Stock Down 0.7%

Shares of NYSE:ABEV opened at $2.22 on Thursday. The business’s 50 day moving average is $2.25 and its 200 day moving average is $2.36. The stock has a market cap of $34.90 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.85. Ambev S.A. has a 52-week low of $1.76 and a 52-week high of $2.63. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last issued its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Ambev had a return on equity of 15.39% and a net margin of 16.18%.The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $21.84 billion. Sell-side analysts predict that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Increases Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.023 per share. This represents a yield of 660.0%. The ex-dividend date is Monday, August 11th. This is a positive change from Ambev’s previous — dividend of $0.02. Ambev’s dividend payout ratio (DPR) is currently 31.25%.

Analysts Set New Price Targets

Several brokerages have issued reports on ABEV. Hsbc Global Res raised shares of Ambev to a “hold” rating in a research note on Friday, August 1st. UBS Group reduced their price target on Ambev from $2.50 to $2.20 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Finally, HSBC restated a “hold” rating on shares of Ambev in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $2.35.

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.