Arrowstreet Capital Limited Partnership Purchases 17,911,122 Shares of Ambev S.A. (NYSE:ABEV)

Arrowstreet Capital Limited Partnership increased its position in shares of Ambev S.A. (NYSE:ABEV) by 1,641.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,001,985 shares of the company’s stock after buying an additional 17,911,122 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Ambev were worth $35,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC boosted its position in Ambev by 51.9% during the 4th quarter. GQG Partners LLC now owns 196,676,003 shares of the company’s stock worth $363,851,000 after acquiring an additional 67,180,274 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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. grew its position in Ambev by 8.1% in the fourth 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. RWC Asset Management LLP increased its stake in Ambev by 4.4% in the 4th quarter. RWC Asset Management LLP now owns 13,063,556 shares of the company’s stock valued at $24,168,000 after buying an additional 552,220 shares during the last quarter. Finally, Kiltearn Partners LLP increased its stake in Ambev by 4.7% in the 4th quarter. Kiltearn Partners LLP now owns 12,758,300 shares of the company’s stock valued at $23,603,000 after buying an additional 577,800 shares during the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Price Performance

NYSE:ABEV opened at $2.36 on Thursday. Ambev S.A. has a 12-month low of $1.76 and a 12-month high of $2.56. The firm has a market capitalization of $37.18 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 5.80 and a beta of 0.68. The stock’s 50 day moving average price is $2.06 and its two-hundred day moving average price is $2.12. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ambev had a net margin of 17.02% and a return on equity of 16.12%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $22.42 billion. On average, analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.0221 per share. This represents a $0.09 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Tuesday, March 18th. Ambev’s payout ratio is 52.94%.

Wall Street Analyst Weigh In

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