Oldfield Partners LLP Decreases Stake in Ambev S.A. $ABEV

Oldfield Partners LLP cut its holdings in shares of Ambev S.A. (NYSE:ABEV) by 55.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,700 shares of the company’s stock after selling 468,300 shares during the period. Ambev makes up 0.3% of Oldfield Partners LLP’s portfolio, making the stock its 13th biggest position. Oldfield Partners LLP’s holdings in Ambev were worth $948,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its stake in Ambev by 12.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 36,058,376 shares of the company’s stock valued at $80,410,000 after acquiring an additional 3,864,844 shares during the period. Bank of America Corp DE raised its holdings in shares of Ambev by 9.9% during the second quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock valued at $66,288,000 after purchasing an additional 2,479,310 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Ambev by 74.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock valued at $32,624,000 after purchasing an additional 5,740,155 shares during the last quarter. Kiltearn Partners LLP lifted its position in Ambev by 5.6% during the third quarter. Kiltearn Partners LLP now owns 11,045,700 shares of the company’s stock valued at $24,632,000 after purchasing an additional 590,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Ambev by 14.1% in the third quarter. Dimensional Fund Advisors LP now owns 9,521,292 shares of the company’s stock worth $21,249,000 after purchasing an additional 1,178,503 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Ambev from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings raised Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 5th. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.88 price objective on shares of Ambev in a research report on Wednesday, November 26th. Finally, Barclays raised their target price on Ambev from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.69.

Ambev Price Performance

NYSE ABEV opened at $2.81 on Tuesday. The company has a market capitalization of $44.20 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 2.00 and a beta of 0.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 0.96. The business’s fifty day moving average is $2.91 and its 200 day moving average is $2.56. Ambev S.A. has a fifty-two week low of $2.10 and a fifty-two week high of $3.24.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Ambev had a return on equity of 16.41% and a net margin of 17.75%.The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Sell-side analysts predict that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.