Pzena Investment Management LLC Decreases Holdings in Ambev S.A. (NYSE:ABEV)

Pzena Investment Management LLC trimmed its holdings in shares of Ambev S.A. (NYSE:ABEV) by 24.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,835,615 shares of the company’s stock after selling 4,515,474 shares during the quarter. Pzena Investment Management LLC owned 0.09% of Ambev worth $25,596,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ABEV. MCIA Inc purchased a new stake in shares of Ambev during the 3rd quarter valued at about $25,000. Insight Inv LLC purchased a new stake in shares of Ambev during the 4th quarter valued at about $25,000. Wealthstream Advisors Inc. purchased a new stake in shares of Ambev during the 3rd quarter valued at about $29,000. Naviter Wealth LLC purchased a new stake in shares of Ambev during the 4th quarter valued at about $29,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Ambev during the 4th quarter valued at about $30,000. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Stock Performance

Shares of NYSE:ABEV opened at $2.22 on Tuesday. The company has a market capitalization of $34.89 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 5.80 and a beta of 0.94. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.58. The firm’s 50-day moving average is $1.89 and its 200 day moving average is $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.

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

Ambev Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be paid a $0.0221 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.09 dividend on an annualized basis and a yield of 3.98%. Ambev’s dividend payout ratio is currently 52.94%.

Wall Street Analysts Forecast Growth

ABEV has been the topic of several analyst reports. Bank of America downgraded shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Barclays cut their price target on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Citigroup reiterated a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. Finally, StockNews.com initiated coverage on shares of Ambev in a report on Monday, January 27th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.