Charlemagne Capital Ltd. cut its stake in Ambev S.A. (NYSE:ABEV) by 19.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,711,979 shares of the company’s stock after selling 411,502 shares during the period. Ambev makes up about 4.9% of Charlemagne Capital Ltd.’s investment portfolio, making the stock its 6th largest position. Charlemagne Capital Ltd.’s holdings in Ambev were worth $8,414,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Cambiar Investors LLC acquired a new stake in Ambev during the third quarter valued at about $106,572,000. Mondrian Investment Partners LTD raised its stake in Ambev by 94.6% in the third quarter. Mondrian Investment Partners LTD now owns 29,607,100 shares of the company’s stock valued at $180,307,000 after buying an additional 14,390,500 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Ambev during the fourth quarter valued at about $35,711,000. Ameriprise Financial Inc. raised its stake in Ambev by 43.3% in the third quarter. Ameriprise Financial Inc. now owns 23,231,446 shares of the company’s stock valued at $141,480,000 after buying an additional 7,017,344 shares during the last quarter. Finally, Horseman Capital Management Ltd acquired a new stake in Ambev during the second quarter valued at about $26,300,000. 7.33% of the stock is owned by institutional investors.
Ambev S.A. (NYSE:ABEV) traded up 2.38% on Tuesday, reaching $5.60. 12,019,902 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $5.30 and a 200 day moving average of $5.59. Ambev S.A. has a 12 month low of $4.33 and a 12 month high of $6.34. The stock has a market capitalization of $87.92 billion, a PE ratio of 23.05 and a beta of 0.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 2nd. Investors of record on Thursday, January 26th will be given a dividend of $0.0213 per share. This represents a $0.09 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Tuesday, January 24th.
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ABEV has been the subject of several analyst reports. J P Morgan Chase & Co upgraded shares of Ambev from a “neutral” rating to an “overweight” rating and set a $5.60 target price for the company in a research note on Thursday, November 10th. Zacks Investment Research downgraded shares of Ambev from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Barclays PLC initiated coverage on shares of Ambev in a research note on Thursday, November 3rd. They issued an “equal weight” rating and a $6.00 target price for the company. Finally, TheStreet upgraded shares of Ambev from a “hold” rating to a “buy” rating in a research note on Friday, October 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Ambev has a consensus rating of “Buy” and a consensus price target of $6.21.
Ambev Company Profile
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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