Brandes Investment Partners LP Sells 2,399,145 Shares of Ambev S.A. (NYSE:ABEV)

Brandes Investment Partners LP reduced its stake in shares of Ambev S.A. (NYSE:ABEV) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,746,639 shares of the company’s stock after selling 2,399,145 shares during the quarter. Brandes Investment Partners LP owned about 0.09% of Ambev worth $27,281,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ABEV. MCIA Inc acquired a new position in Ambev in the third quarter valued at approximately $25,000. Insight Inv LLC acquired a new position in Ambev in the fourth quarter valued at approximately $25,000. Naviter Wealth LLC acquired a new position in Ambev in the fourth quarter valued at approximately $29,000. Exchange Traded Concepts LLC acquired a new position in Ambev in the fourth quarter valued at approximately $30,000. Finally, Angeles Wealth Management LLC acquired a new position in Ambev in the fourth quarter valued at approximately $36,000. 8.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABEV shares. Barclays cut their price objective 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. StockNews.com started coverage on shares of Ambev in a report on Monday, January 27th. They issued 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.45.

Ambev Trading Up 2.9 %

ABEV opened at $2.31 on Friday. The firm’s fifty day moving average is $1.93 and its two-hundred day moving average is $2.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The firm has a market cap of $36.31 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 5.80 and a beta of 0.94. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.56.

Ambev (NYSE:ABEV) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. Equities research analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Tuesday, March 18th will be given a $0.0221 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.09 annualized dividend and a yield of 3.83%. Ambev’s dividend payout ratio is currently 52.94%.

Ambev Company 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.