Ninety One UK Ltd Decreases Holdings in Ambev S.A. (NYSE:ABEV)

Ninety One UK Ltd trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,091,484 shares of the company’s stock after selling 233,743 shares during the period. Ninety One UK Ltd’s holdings in Ambev were worth $5,719,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HTLF Bank purchased a new position in shares of Ambev during the 3rd quarter valued at about $26,000. MCIA Inc purchased a new position in Ambev in the 3rd quarter worth approximately $25,000. Wealthstream Advisors Inc. purchased a new position in Ambev in the 3rd quarter worth approximately $29,000. Riversedge Advisors LLC purchased a new position in Ambev in the 3rd quarter worth approximately $31,000. Finally, BSW Wealth Partners purchased a new position in Ambev in the 3rd quarter worth approximately $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Price Performance

Shares of ABEV stock opened at $1.84 on Thursday. The firm has a market cap of $28.91 billion, a P/E ratio of 10.19, a P/E/G ratio of 5.59 and a beta of 1.04. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.72. The business’s 50 day moving average price is $1.96 and its 200-day moving average price is $2.17. 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 Cuts Dividend

The company also recently declared an annual dividend, which was paid on Thursday, January 9th. Investors of record on Monday, December 23rd were given a dividend of $0.0414 per share. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s dividend payout ratio is presently 38.89%.

Analyst Ratings Changes

A number of brokerages have commented on ABEV. Bank of America cut Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Citigroup reaffirmed a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Barclays decreased their price target on Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, StockNews.com began coverage on Ambev in a research report on Monday, January 27th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to 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.