Pzena Investment Management LLC Has $13.78 Million Stock Holdings in Ambev S.A. $ABEV

Pzena Investment Management LLC lifted its holdings in shares of Ambev S.A. (NYSE:ABEV) by 6.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,717,328 shares of the company’s stock after acquiring an additional 295,709 shares during the period. Pzena Investment Management LLC’s holdings in Ambev were worth $13,775,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ABEV. Integrated Wealth Concepts LLC acquired a new position in Ambev in the first quarter worth about $26,000. Millennium Management LLC boosted its holdings in Ambev by 62.5% during the first quarter. Millennium Management LLC now owns 2,399,472 shares of the company’s stock valued at $5,591,000 after purchasing an additional 922,566 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ambev by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,000,107 shares of the company’s stock valued at $11,650,000 after purchasing an additional 582,153 shares during the period. Focus Partners Wealth bought a new stake in shares of Ambev in the 1st quarter valued at approximately $33,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Ambev in the 1st quarter worth approximately $264,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paulo Andre Zagman sold 136,250 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $3.41, for a total value of $464,612.50. Following the transaction, the insider owned 230,535 shares of the company’s stock, valued at approximately $786,124.35. This trade represents a 37.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group boosted their price target on Ambev from $2.65 to $2.90 and gave the company a “sell” rating in a research note on Thursday, May 14th. Wall Street Zen cut Ambev from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings downgraded shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Barclays upped their target price on shares of Ambev from $3.00 to $3.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.09.

Ambev Stock Down 0.2%

NYSE:ABEV opened at $3.10 on Friday. The company has a market cap of $48.94 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.78 and a current ratio of 1.03. The stock’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $2.94. Ambev S.A. has a 52-week low of $2.10 and a 52-week high of $3.45.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.38 billion. Ambev had a return on equity of 16.63% and a net margin of 17.69%. On average, analysts anticipate that Ambev S.A. will post 0.21 EPS for the current year.

Ambev Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, June 24th will be given a dividend of $0.0092 per share. The ex-dividend date is Wednesday, June 24th. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. Ambev’s dividend payout ratio is presently 10.53%.

Ambev Company Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.