Oldfield Partners LLP Sells 558,800 Shares of Ambev S.A. (NYSE:ABEV)

Oldfield Partners LLP decreased its holdings in shares of Ambev S.A. (NYSE:ABEV) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,363,300 shares of the company’s stock after selling 558,800 shares during the period. Ambev makes up about 1.8% of Oldfield Partners LLP’s holdings, making the stock its 11th largest holding. Oldfield Partners LLP’s holdings in Ambev were worth $6,222,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in Ambev by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock valued at $104,688,000 after purchasing an additional 226,238 shares in the last quarter. Seafarer Capital Partners LLC increased its holdings in shares of Ambev by 6.3% in the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after buying an additional 1,770,000 shares during the period. Private Management Group Inc. increased its holdings in shares of Ambev by 43.8% in the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock worth $32,765,000 after buying an additional 4,087,442 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Ambev by 33.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock worth $32,296,000 after buying an additional 3,322,952 shares during the period. Finally, State Street Corp increased its holdings in shares of Ambev by 9.2% in the third quarter. State Street Corp now owns 10,425,374 shares of the company’s stock worth $25,438,000 after buying an additional 878,900 shares during the period. Institutional investors own 8.13% of the company’s stock.

Ambev Price Performance

Shares of ABEV opened at $1.86 on Wednesday. The firm has a market cap of $29.22 billion, a PE ratio of 10.31, a P/E/G ratio of 5.44 and a beta of 1.05. 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 fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $2.18. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.72.

Ambev Cuts Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays reduced their price target on Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Citigroup reissued a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. Bank of America cut Ambev from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, StockNews.com started coverage on shares of Ambev in a report on Monday. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.