Pitcairn Co. Holds Position in Ambev S.A. (ABEV)
Pitcairn Co. maintained its stake in Ambev S.A. (NYSE:ABEV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,863 shares of the company’s stock at the end of the second quarter. Pitcairn Co.’s holdings in Ambev were worth $312,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Wedbush Securities Inc. boosted its stake in shares of Ambev by 2.2% in the first quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock worth $100,000 after buying an additional 369 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Ambev by 2.1% in the first quarter. Earnest Partners LLC now owns 45,846 shares of the company’s stock worth $264,000 after buying an additional 930 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of Ambev by 2.6% in the second quarter. Telemus Capital LLC now owns 69,234 shares of the company’s stock worth $380,000 after buying an additional 1,729 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Ambev by 5.4% in the first quarter. Wetherby Asset Management Inc. now owns 38,214 shares of the company’s stock worth $220,000 after buying an additional 1,972 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ambev by 1.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,563 shares of the company’s stock worth $1,316,000 after buying an additional 2,230 shares during the last quarter. 7.50% of the stock is currently owned by institutional investors.
Ambev S.A. (ABEV) opened at 6.19 on Wednesday. The company has a 50-day moving average of $5.87 and a 200 day moving average of $5.71. Ambev S.A. has a 12 month low of $4.70 and a 12 month high of $6.39. The stock has a market capitalization of $97.23 billion, a price-to-earnings ratio of 25.47 and a beta of 0.66.
Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. On average, equities research analysts anticipate that Ambev S.A. will post $0.23 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which was paid on Monday, July 24th. Shareholders of record on Wednesday, June 28th were issued a $0.0493 dividend. This is an increase from Ambev’s previous special dividend of $0.03. The ex-dividend date was Monday, June 26th. Ambev’s payout ratio is currently 50.00%.
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A number of equities research analysts have issued reports on ABEV shares. Zacks Investment Research raised shares of Ambev from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, July 10th. Barclays PLC reissued a “hold” rating on shares of Ambev in a report on Sunday, July 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price 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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