Renaissance Technologies LLC Sells 1,166,700 Shares of Ambev S.A. (NYSE:ABEV)

Renaissance Technologies LLC trimmed its stake in shares of Ambev S.A. (NYSE:ABEV) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,198,300 shares of the company’s stock after selling 1,166,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.21% of Ambev worth $61,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ABEV. FMR LLC increased its stake in Ambev by 35.5% in the 3rd quarter. FMR LLC now owns 78,604 shares of the company’s stock worth $192,000 after buying an additional 20,599 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ambev by 34.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 382,600 shares of the company’s stock valued at $934,000 after buying an additional 97,150 shares during the last quarter. Centiva Capital LP acquired a new stake in Ambev during the third quarter valued at $243,000. HighTower Advisors LLC lifted its holdings in Ambev by 18.3% during the third quarter. HighTower Advisors LLC now owns 54,013 shares of the company’s stock valued at $129,000 after purchasing an additional 8,350 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Ambev by 298.1% in the third quarter. Stifel Financial Corp now owns 802,016 shares of the company’s stock valued at $1,957,000 after buying an additional 600,545 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABEV. Citigroup restated a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. StockNews.com assumed coverage on shares of Ambev in a research note on Monday, January 27th. They issued a “buy” rating for the company. Bank of America downgraded shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Morgan Stanley lowered Ambev from an “equal weight” rating to an “underweight” rating in a research note on Monday. Finally, Barclays decreased their target price on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Ambev currently has an average rating of “Hold” and a consensus price target of $2.45.

Ambev Price Performance

ABEV opened at $2.30 on Thursday. The company has a 50-day moving average of $2.12 and a 200-day moving average of $2.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.56. The company has a market capitalization of $36.23 billion, a P/E ratio of 12.78, a PEG ratio of 5.80 and a beta of 0.68.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $22.42 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. Equities analysts expect that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be paid a $0.0221 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Tuesday, March 18th. Ambev’s dividend payout ratio (DPR) is presently 52.94%.

Ambev Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.