OceanIQ Capital LLC Purchases Shares of 207,320 Ambev S.A. $ABEV

OceanIQ Capital LLC purchased a new position in Ambev S.A. (NYSE:ABEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 207,320 shares of the company’s stock, valued at approximately $651,000.

Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP purchased a new stake in shares of Ambev during the third quarter worth about $25,000. Integrated Wealth Concepts LLC bought a new position in Ambev during the 1st quarter valued at approximately $26,000. IHT Wealth Management LLC bought a new position in Ambev during the 4th quarter valued at approximately $27,000. S Harris Financial Group LLC purchased a new stake in Ambev in the 4th quarter worth approximately $28,000. Finally, Royal Palms Capital LLC bought a new stake in shares of Ambev in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Insider Buying and Selling at Ambev

In related news, Director Manuel Moreira sold 468,040 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $3.08, for a total value of $1,441,563.20. Following the completion of the transaction, the director directly owned 3,000,000 shares in the company, valued at $9,240,000. This trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Scotiabank cut Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. UBS Group set a $2.85 price target on shares of Ambev in a report on Tuesday, August 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Ambev in a report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Ambev from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $3.08.

Ambev Trading Down 0.3%

ABEV opened at $3.03 on Friday. The stock has a market cap of $47.76 billion, a PE ratio of 15.15, a PEG ratio of 2.21 and a beta of 0.64. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $3.00 and a 200-day moving average of $3.05. Ambev S.A. has a 52 week low of $2.10 and a 52 week high of $3.45.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Ambev had a return on equity of 17.48% and a net margin of 18.47%. Equities research analysts predict that Ambev S.A. will post 0.2 earnings per share for the current fiscal year.

Ambev Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, September 23rd will be given a $0.0092 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. Ambev’s dividend payout ratio is currently 15.00%.

About Ambev

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.