Ambev S.A. (NYSE:ABEV) Stake Cut by CIBC Asset Management Inc
CIBC Asset Management Inc cut its stake in Ambev S.A. (NYSE:ABEV) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 132,370 shares of the company’s stock after selling 3,540 shares during the period. CIBC Asset Management Inc’s holdings in Ambev were worth $727,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedbush Securities Inc. boosted its position in shares of Ambev by 2.2% in the first quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock valued at $100,000 after buying an additional 369 shares during the period. M&T Bank Corp raised its stake in shares of Ambev by 45.4% in the first quarter. M&T Bank Corp now owns 1,130,259 shares of the company’s stock worth $6,509,000 after buying an additional 353,004 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Ambev by 20.5% in the first quarter. First Mercantile Trust Co. now owns 107,463 shares of the company’s stock worth $619,000 after buying an additional 18,262 shares in the last quarter. Cullen Capital Management LLC raised its stake in shares of Ambev by 71.7% in the first quarter. Cullen Capital Management LLC now owns 584,830 shares of the company’s stock worth $3,369,000 after buying an additional 244,310 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Ambev by 34.3% in the first quarter. UBS Group AG now owns 3,099,407 shares of the company’s stock worth $17,852,000 after buying an additional 791,973 shares in the last quarter. 7.50% of the stock is owned by institutional investors and hedge funds.
Shares of Ambev S.A. (ABEV) opened at 6.12 on Tuesday. Ambev S.A. has a 52 week low of $4.70 and a 52 week high of $6.39. The stock has a 50 day moving average of $5.85 and a 200-day moving average of $5.70. The company has a market capitalization of $96.13 billion, a price-to-earnings ratio of 25.19 and a beta of 0.66.
Ambev (NYSE:ABEV) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. On average, analysts anticipate that Ambev S.A. will post $0.23 EPS for the current year.
The business also recently disclosed a special dividend, which was paid on Monday, July 24th. Investors of record on Wednesday, June 28th were given a $0.0493 dividend. This is a positive change from Ambev’s previous special dividend of $0.03. The ex-dividend date was Monday, June 26th. Ambev’s dividend payout ratio (DPR) is presently 50.00%.
ABEV has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Ambev from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Barclays PLC reiterated a “hold” rating on shares of Ambev in a research note on Sunday, July 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.16.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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