Great Lakes Advisors LLC Decreases Stock Position in Ambev S.A. (NYSE:ABEV)

Great Lakes Advisors LLC cut its holdings in Ambev S.A. (NYSE:ABEV) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 529,231 shares of the company’s stock after selling 34,597 shares during the quarter. Great Lakes Advisors LLC’s holdings in Ambev were worth $979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABEV. MCIA Inc purchased a new position in shares of Ambev in the third quarter worth about $25,000. Insight Inv LLC purchased a new position in shares of Ambev in the fourth quarter worth about $25,000. Naviter Wealth LLC purchased a new position in shares of Ambev in the fourth quarter worth about $29,000. Exchange Traded Concepts LLC purchased a new position in shares of Ambev in the fourth quarter worth about $30,000. Finally, Angeles Wealth Management LLC purchased a new position in shares of Ambev in the fourth quarter worth about $36,000. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Stock Up 2.9 %

Shares of ABEV stock opened at $2.31 on Friday. The stock has a 50 day moving average of $1.93 and a 200 day moving average of $2.12. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock has a market cap of $36.31 billion, a P/E ratio of 12.81, a P/E/G ratio of 5.80 and a beta of 0.94. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.56.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ambev had a net margin of 17.02% and a return on equity of 16.12%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $22.42 billion. As a group, sell-side analysts expect that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be issued a $0.0221 dividend. This represents a $0.09 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, March 18th. Ambev’s payout ratio is currently 52.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ABEV shares. StockNews.com started coverage on Ambev in a research note on Monday, January 27th. They issued a “buy” rating for the company. Barclays reduced their price objective on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Citigroup restated a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Finally, Bank of America cut 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.