Bank of New York Mellon Corp Raises Holdings in Ambev SA (ABEV)
Bank of New York Mellon Corp boosted its position in shares of Ambev SA (NYSE:ABEV) by 3.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,039,067 shares of the company’s stock after acquiring an additional 140,214 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ambev were worth $26,618,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Artisan Partners Limited Partnership lifted its holdings in shares of Ambev by 275.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 31,901,018 shares of the company’s stock valued at $175,137,000 after buying an additional 23,398,802 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Ambev by 2,289.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,749,400 shares of the company’s stock valued at $97,444,000 after buying an additional 17,006,598 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ambev by 17.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock valued at $472,786,000 after buying an additional 12,723,137 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Ambev by 31.4% in the 2nd quarter. William Blair Investment Management LLC now owns 22,256,839 shares of the company’s stock valued at $122,190,000 after buying an additional 5,315,282 shares during the period. Finally, AKO Capital LLP acquired a new position in shares of Ambev in the 3rd quarter valued at about $1,023,000. 7.44% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the company. Credit Suisse Group raised Ambev from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 12th. BidaskClub cut Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research raised Ambev from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Monday, October 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $8.50 price target (up previously from $7.00) on shares of Ambev in a report on Friday, October 13th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $7.00 price target (up previously from $6.00) on shares of Ambev in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Ambev currently has an average rating of “Hold” and a consensus target price of $7.83.
The firm also recently declared a special dividend, which will be paid on Monday, January 8th. Investors of record on Wednesday, December 20th will be issued a $0.0958 dividend. This is a boost from Ambev’s previous special dividend of $0.05. The ex-dividend date of this dividend is Tuesday, December 19th. Ambev’s dividend payout ratio is presently 38.89%.
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Ambev Company Profile
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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