Great Lakes Advisors LLC Buys 1,662,357 Shares of Ambev S.A. $ABEV

Great Lakes Advisors LLC raised its stake in shares of Ambev S.A. (NYSE:ABEV) by 21.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,346,968 shares of the company’s stock after acquiring an additional 1,662,357 shares during the quarter. Great Lakes Advisors LLC’s holdings in Ambev were worth $20,844,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABEV. Integrated Wealth Concepts LLC bought a new stake in shares of Ambev in the 1st quarter worth approximately $26,000. Bensler LLC acquired a new stake in Ambev during the third quarter worth $27,000. EverSource Wealth Advisors LLC increased its stake in Ambev by 2,224.1% in the second quarter. EverSource Wealth Advisors LLC now owns 12,248 shares of the company’s stock valued at $30,000 after acquiring an additional 11,721 shares during the period. Signaturefd LLC increased its position in shares of Ambev by 63.2% during the 2nd quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock worth $31,000 after purchasing an additional 4,924 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of Ambev in the first quarter valued at $33,000. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

NYSE ABEV opened at $2.84 on Thursday. Ambev S.A. has a 52-week low of $1.80 and a 52-week high of $2.87. The stock has a market cap of $44.67 billion, a PE ratio of 15.75, a P/E/G ratio of 2.99 and a beta of 0.67. The firm has a 50-day moving average of $2.54 and a 200-day moving average of $2.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.86 and a current ratio of 1.15.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Ambev had a return on equity of 15.81% and a net margin of 17.90%. On average, sell-side analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 22nd were paid a dividend of $0.049 per share. The ex-dividend date was Monday, December 22nd. This represents a yield of 1,465.0%. Ambev’s payout ratio is 183.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABEV. Weiss Ratings reissued a “hold (c)” rating on shares of Ambev in a research note on Monday, December 29th. Sanford C. Bernstein restated a “market perform” rating and set a $2.88 target price on shares of Ambev in a report on Wednesday, November 26th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $2.53.

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.