Private Management Group Inc. Sells 454,897 Shares of Ambev S.A. $ABEV

Private Management Group Inc. reduced its holdings in shares of Ambev S.A. (NYSE:ABEV) by 4.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,843,977 shares of the company’s stock after selling 454,897 shares during the period. Private Management Group Inc.’s holdings in Ambev were worth $34,050,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP purchased a new position in shares of Ambev during the 3rd quarter worth $25,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ambev in the 1st quarter worth $26,000. IHT Wealth Management LLC bought a new position in Ambev in the 4th quarter worth $27,000. S Harris Financial Group LLC bought a new position in Ambev in the 4th quarter worth $28,000. Finally, Royal Palms Capital LLC bought a new position in Ambev in the 4th quarter worth $29,000. 8.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ambev

In related news, Director Ricardo Manuel Frangat Moreira sold 468,040 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $3.08, for a total transaction of $1,441,563.20. Following the completion of the sale, the director owned 3,000,000 shares in the company, valued at approximately $9,240,000. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ambev Stock Down 0.7%

ABEV opened at $2.86 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.02. Ambev S.A. has a fifty-two week low of $2.10 and a fifty-two week high of $3.45. The firm’s fifty day moving average is $3.02 and its 200 day moving average is $3.05. The stock has a market cap of $45.08 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.65.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Ambev had a return on equity of 17.48% and a net margin of 18.47%.The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $4.05 billion. On average, sell-side analysts forecast that Ambev S.A. will post 0.2 earnings per share for the current fiscal year.

Ambev Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, September 23rd will be paid a $0.0092 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.3%. Ambev’s dividend payout ratio is 15.00%.

Analysts Set New Price Targets

Several analysts have issued reports on ABEV shares. UBS Group set a $2.85 price target on Ambev in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ambev in a research note on Monday, August 3rd. Scotiabank cut Ambev from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, July 15th. Wall Street Zen cut Ambev from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Barclays boosted their price objective on Ambev from $3.00 to $3.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.08.

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.