Allspring Global Investments Holdings LLC Acquires 5,283,746 Shares of Ambev S.A. (NYSE:ABEV)

Allspring Global Investments Holdings LLC increased its position in shares of Ambev S.A. (NYSE:ABEV) by 39.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,519,980 shares of the company’s stock after acquiring an additional 5,283,746 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Ambev worth $33,892,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABEV. Sanctuary Advisors LLC bought a new position in shares of Ambev during the 2nd quarter worth approximately $225,000. SG Americas Securities LLC raised its stake in shares of Ambev by 546.9% during the 3rd 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. Creative Planning raised its stake in shares of Ambev by 15.5% during the 3rd quarter. Creative Planning now owns 299,592 shares of the company’s stock worth $731,000 after acquiring an additional 40,257 shares in the last quarter. Bfsg LLC raised its stake in shares of Ambev by 70.5% during the 3rd quarter. Bfsg LLC now owns 112,000 shares of the company’s stock worth $273,000 after acquiring an additional 46,300 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new position in shares of Ambev during the 3rd quarter worth approximately $64,000. Institutional investors own 8.13% of the company’s stock.

Analysts Set New Price Targets

ABEV has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of 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. Bank of America lowered shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, StockNews.com began coverage on shares of Ambev in a research note on Monday, January 27th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.45.

Ambev Stock Up 1.9 %

ABEV stock opened at $1.91 on Friday. The firm’s fifty day simple moving average is $1.91 and its 200-day simple moving average is $2.15. The company has a market capitalization of $30.01 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 5.56 and a beta of 1.04. 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 S.A. has a 12 month low of $1.76 and a 12 month high of $2.72.

Ambev Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were issued a $0.0414 dividend. This represents a dividend yield of 1.93%. The ex-dividend date was Monday, December 23rd. Ambev’s dividend payout ratio (DPR) is currently 33.33%.

Ambev 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.