GQG Partners LLC Grows Holdings in Ambev S.A. (NYSE:ABEV)

GQG Partners LLC lifted its stake in Ambev S.A. (NYSE:ABEV) by 51.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 196,676,003 shares of the company’s stock after purchasing an additional 67,180,274 shares during the quarter. GQG Partners LLC’s holdings in Ambev were worth $363,851,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CORDA Investment Management LLC. purchased a new stake in Ambev during the fourth quarter worth about $11,987,000. Allspring Global Investments Holdings LLC increased its stake in Ambev by 39.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,519,980 shares of the company’s stock worth $33,892,000 after buying an additional 5,283,746 shares during the period. Raymond James Financial Inc. acquired a new stake in Ambev during the 4th quarter worth approximately $3,523,000. Itau Unibanco Holding S.A. acquired a new stake in Ambev during the 3rd quarter worth approximately $3,259,000. Finally, Jane Street Group LLC boosted its position in Ambev by 132.9% in the 3rd quarter. Jane Street Group LLC now owns 1,976,147 shares of the company’s stock valued at $4,822,000 after buying an additional 1,127,719 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Stock Performance

Shares of ABEV stock opened at $2.30 on Tuesday. The company has a market cap of $36.16 billion, a P/E ratio of 12.75, a PEG ratio of 5.80 and a beta of 0.94. The firm has a fifty day moving average price of $1.99 and a 200 day moving average price of $2.12. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.56.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ambev had a return on equity of 16.12% and a net margin of 17.02%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $22.42 billion. Sell-side analysts predict that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be paid a $0.0221 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.09 annualized dividend and a yield of 3.84%. Ambev’s dividend payout ratio is currently 52.94%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. Bank of America downgraded Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. StockNews.com started coverage on Ambev in a research note on Monday, January 27th. They issued a “buy” rating for the company. Finally, Barclays lowered their price objective on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Ambev currently has a consensus rating of “Hold” and a consensus 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.