BlackRock Inc. Has $1,533,000 Stake in Ambev S.A. (ABEV)
BlackRock Inc. cut its stake in Ambev S.A. (NYSE:ABEV) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,755 shares of the company’s stock after selling 9,748 shares during the period. BlackRock Inc.’s holdings in Ambev were worth $1,533,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in ABEV. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Ambev during the third quarter valued at about $100,000. Cornerstone Advisors Inc. raised its stake in Ambev by 8,549.5% in the third quarter. Cornerstone Advisors Inc. now owns 19,029 shares of the company’s stock valued at $116,000 after buying an additional 18,809 shares in the last quarter. Park National Corp OH purchased a new stake in Ambev during the third quarter valued at about $119,000. Victory Capital Management Inc. raised its stake in Ambev by 41.3% in the third quarter. Victory Capital Management Inc. now owns 25,298 shares of the company’s stock valued at $154,000 after buying an additional 7,390 shares in the last quarter. Finally, Intrust Bank NA purchased a new stake in Ambev during the third quarter valued at about $172,000. 7.18% of the stock is owned by institutional investors.
Ambev S.A. (NYSE:ABEV) opened at 5.31 on Friday. Ambev S.A. has a 52-week low of $3.86 and a 52-week high of $6.34. The stock’s 50 day moving average price is $4.95 and its 200-day moving average price is $5.66. The company has a market capitalization of $83.36 billion, a P/E ratio of 22.50 and a beta of 0.69.
The business also recently declared 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 1.61%. The ex-dividend date of this dividend is Tuesday, January 24th.
Several equities research analysts recently issued reports on ABEV shares. TheStreet raised shares of Ambev from a “hold” rating to a “buy” rating in a report on Friday, October 28th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $6.80 price target on shares of Ambev in a research note on Monday, October 10th. Barclays PLC started coverage on Ambev in a research note on Thursday, November 3rd. They issued an “equal weight” rating and a $6.00 price target for the company. Zacks Investment Research upgraded Ambev from a “sell” rating to a “hold” rating in a research note on Friday, December 23rd. Finally, J P Morgan Chase & Co upgraded Ambev from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.16.
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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