CORDA Investment Management LLC. Acquires Shares of 6,479,555 Ambev S.A. (NYSE:ABEV)

CORDA Investment Management LLC. bought a new position in shares of Ambev S.A. (NYSE:ABEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,479,555 shares of the company’s stock, valued at approximately $11,987,000.

Several other hedge funds have also recently modified their holdings of the stock. MCIA Inc purchased a new position in Ambev in the 3rd quarter valued at $25,000. Insight Inv LLC purchased a new position in shares of Ambev in the fourth quarter worth about $25,000. Wealthstream Advisors Inc. acquired a new position in Ambev during the third quarter worth about $29,000. Exchange Traded Concepts LLC purchased a new stake in Ambev during the 4th quarter valued at about $30,000. Finally, BSW Wealth Partners acquired a new stake in Ambev in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Trading Up 5.8 %

Shares of ABEV stock opened at $2.11 on Friday. The company has a 50-day moving average of $1.86 and a two-hundred day moving average of $2.14. The firm has a market cap of $33.16 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 5.80 and a beta of 1.04. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89.

Ambev (NYSE:ABEV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. On average, analysts predict that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.0221 per share. The ex-dividend date is Tuesday, March 18th. Ambev’s dividend payout ratio (DPR) is presently 38.89%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price target on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Citigroup restated a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. StockNews.com began coverage on Ambev in a report on Monday, January 27th. They set a “buy” rating on the stock. Finally, Bank of America lowered shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.