Renaissance Technologies LLC Has $79.88 Million Position in Ambev S.A. $ABEV

Renaissance Technologies LLC grew its holdings in shares of Ambev S.A. (NYSE:ABEV) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,354,300 shares of the company’s stock after buying an additional 1,674,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of Ambev worth $79,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Monument Capital Management acquired a new position in shares of Ambev during the 4th quarter worth approximately $25,000. Integrated Advisors Network LLC acquired a new position in Ambev during the first quarter worth $31,000. IHT Wealth Management LLC acquired a new position in Ambev during the fourth quarter worth $27,000. First Trust Advisors LP bought a new stake in Ambev during the third quarter worth $25,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Ambev during the first quarter worth $26,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analyst Ratings Changes

ABEV has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Ambev from $2.65 to $2.90 and gave the company a “sell” rating in a research note on Thursday, May 14th. Scotiabank lowered Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. Barclays increased their price target on Ambev from $3.00 to $3.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded Ambev from a “buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.09.

Insider Transactions at Ambev

In other Ambev news, insider Paulo Andre Zagman sold 136,250 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $3.41, for a total transaction of $464,612.50. Following the transaction, the insider owned 230,535 shares in the company, valued at $786,124.35. This trade represents a 37.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ambev Stock Down 1.1%

ABEV stock opened at $3.06 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.03 and a quick ratio of 0.78. The stock has a market capitalization of $48.15 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.79 and a beta of 0.64. The business’s fifty day moving average price is $3.14 and its two-hundred day moving average price is $3.01. Ambev S.A. has a fifty-two week low of $2.10 and a fifty-two week high of $3.45.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Ambev had a net margin of 17.69% and a return on equity of 16.63%. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.38 billion. On average, equities analysts anticipate that Ambev S.A. will post 0.2 earnings per share for the current year.

Ambev Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, June 24th will be given a dividend of $0.0092 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. Ambev’s dividend payout ratio is currently 10.53%.

About Ambev

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.