Ninety One UK Ltd Sells 233,743 Shares of Ambev S.A. (NYSE:ABEV)

Ninety One UK Ltd cut its position in shares of Ambev S.A. (NYSE:ABEV) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm 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 hedge funds also recently made changes to their positions in the company. Creative Planning boosted its holdings in Ambev by 10.5% in the second quarter. Creative Planning now owns 259,335 shares of the company’s stock worth $532,000 after acquiring an additional 24,678 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Ambev by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 122,485 shares of the company’s stock worth $251,000 after acquiring an additional 8,106 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Ambev by 53.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 56,062 shares of the company’s stock worth $115,000 after acquiring an additional 19,496 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Ambev in the second quarter worth $225,000. Finally, SG Americas Securities LLC boosted its holdings in Ambev by 546.9% in the third quarter. SG Americas Securities LLC now owns 69,383 shares of the company’s stock worth $169,000 after acquiring an additional 58,657 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America downgraded Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. StockNews.com assumed coverage on Ambev in a report on Monday, January 27th. They issued a “buy” rating on the stock. Citigroup restated a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Finally, Barclays decreased their price target 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Ambev currently has an average rating of “Hold” and a consensus price target of $2.45.

Ambev Stock Down 0.3 %

ABEV stock opened at $1.84 on Thursday. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.72. The business has a fifty day moving average price of $1.96 and a 200-day moving average price of $2.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The stock has a market capitalization 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 Cuts Dividend

The company also recently disclosed 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. This represents a yield of 1.93%. The ex-dividend date was Monday, December 23rd. Ambev’s dividend payout ratio (DPR) is presently 38.89%.

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.