Ambev S.A. $ABEV Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its stake in shares of Ambev S.A. (NYSE:ABEV) by 95.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,597 shares of the company’s stock after selling 2,706,320 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Ambev were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABEV. Wellington Management Group LLP raised its position in shares of Ambev by 9.2% during the 2nd quarter. Wellington Management Group LLP now owns 887,341 shares of the company’s stock worth $2,786,000 after acquiring an additional 74,965 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Ambev by 16.0% in the 2nd quarter. Empowered Funds LLC now owns 140,475 shares of the company’s stock worth $441,000 after acquiring an additional 19,377 shares during the period. United Capital Financial Advisors LLC boosted its stake in shares of Ambev by 26.7% in the second quarter. United Capital Financial Advisors LLC now owns 23,467 shares of the company’s stock valued at $74,000 after buying an additional 4,941 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Ambev in the second quarter valued at $64,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in Ambev during the second quarter worth about $91,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on ABEV shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ambev in a research report on Monday, August 3rd. UBS Group set a $2.85 price objective on Ambev in a research note on Tuesday, August 11th. Scotiabank downgraded shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Ambev from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ambev presently has a consensus rating of “Reduce” and a consensus target price of $3.08.

Insider Activity

In other news, Director Manuel Moreira sold 468,040 shares of Ambev stock in a transaction on 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 transaction, the director owned 3,000,000 shares in the company, valued at approximately $9,240,000. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ambev Price Performance

NYSE:ABEV opened at $3.03 on Monday. The firm has a market cap of $47.76 billion, a P/E ratio of 15.15, a PEG ratio of 2.20 and a beta of 0.64. Ambev S.A. has a 52-week low of $2.10 and a 52-week high of $3.45. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $3.00 and its 200 day moving average price is $3.05.

Ambev (NYSE:ABEV) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Ambev had a return on equity of 17.48% and a net margin of 18.47%.The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $4.05 billion. As a group, sell-side analysts predict that Ambev S.A. will post 0.2 earnings per share for the current fiscal year.

Ambev Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, September 23rd will be given a $0.0092 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 23rd. Ambev’s dividend payout ratio is 10.00%.

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.