ABC Arbitrage SA Takes Position in Ambev S.A. (NYSE:ABEV)

ABC Arbitrage SA acquired a new stake in shares of Ambev S.A. (NYSE:ABEV) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 110,919 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in shares of Ambev by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock valued at $104,688,000 after acquiring an additional 226,238 shares during the period. Seafarer Capital Partners LLC boosted its holdings in Ambev by 6.3% in the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after buying an additional 1,770,000 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Ambev by 39.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,519,980 shares of the company’s stock worth $33,892,000 after buying an additional 5,283,746 shares during the period. Private Management Group Inc. boosted its holdings in Ambev by 8.1% in the 4th quarter. Private Management Group Inc. now owns 14,512,234 shares of the company’s stock worth $26,848,000 after buying an additional 1,083,882 shares during the period. Finally, State Street Corp boosted its holdings in Ambev by 9.2% in the 3rd quarter. State Street Corp now owns 10,425,374 shares of the company’s stock worth $25,438,000 after buying an additional 878,900 shares during the period. Institutional investors own 8.13% of the company’s stock.

Ambev Stock Up 1.9 %

Shares of ABEV stock opened at $1.91 on Friday. The stock has a market cap of $30.01 billion, a P/E ratio of 10.58, a PEG ratio of 5.56 and a beta of 1.04. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.72. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $1.90 and its two-hundred day simple moving average is $2.15.

Ambev Cuts Dividend

The business also recently declared an annual dividend, which was paid on Thursday, January 9th. Shareholders of record on Monday, December 23rd were paid a $0.0414 dividend. This represents a yield of 1.93%. The ex-dividend date was Monday, December 23rd. Ambev’s payout ratio is currently 38.89%.

Wall Street Analyst Weigh In

ABEV has been the subject of several recent analyst reports. Barclays dropped their target price on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. StockNews.com initiated coverage on shares of Ambev in a report on Monday, January 27th. They issued a “buy” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. Finally, Bank of America cut shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.45.

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.