RWC Asset Management LLP Has $24.17 Million Stock Position in Ambev S.A. (NYSE:ABEV)

RWC Asset Management LLP increased its stake in Ambev S.A. (NYSE:ABEV) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 13,063,556 shares of the company’s stock after acquiring an additional 552,220 shares during the period. RWC Asset Management LLP’s holdings in Ambev were worth $24,168,000 at the end of the most recent reporting period.

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

Ambev Stock Performance

Shares of ABEV stock opened at $1.93 on Monday. The business’s 50-day moving average price is $1.87 and its 200-day moving average price is $2.14. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.72. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 5.77 and a beta of 1.04.

Ambev Cuts Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup restated a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. Barclays reduced their price target on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. StockNews.com initiated coverage on shares of Ambev in a report on Monday, January 27th. They set a “buy” rating on the stock. Finally, Bank of America lowered shares of Ambev from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.45.

About Ambev

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.