Cook & Bynum Capital Management LLC Buys Shares of 1,354,009 Ambev S.A. $ABEV

Cook & Bynum Capital Management LLC bought a new stake in shares of Ambev S.A. (NYSE:ABEV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,354,009 shares of the company’s stock, valued at approximately $4,251,588. Ambev comprises approximately 0.0% of Cook & Bynum Capital Management LLC’s portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of ABEV. Integrated Wealth Concepts LLC bought a new stake in shares of Ambev in the 1st quarter valued at $26,000. Millennium Management LLC boosted its position in shares of Ambev by 62.5% during the first quarter. Millennium Management LLC now owns 2,399,472 shares of the company’s stock valued at $5,591,000 after buying an additional 922,566 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Ambev by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 5,000,107 shares of the company’s stock worth $11,650,000 after purchasing an additional 582,153 shares in the last quarter. Focus Partners Wealth bought a new position in Ambev during the 1st quarter valued at about $33,000. Finally, Acadian Asset Management LLC bought a new position in shares of Ambev in the 1st quarter worth $264,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Stock Down 0.7%

Ambev stock traded down $0.02 during trading hours on Friday, reaching $2.86. The stock had a trading volume of 25,423,341 shares, compared to its average volume of 26,932,123. The company has a market cap of $45.08 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.11 and a beta of 0.65. Ambev S.A. has a 52 week low of $2.10 and a 52 week high of $3.45. The business’s 50 day moving average price is $3.02 and its 200-day moving average price is $3.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 0.76.

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

Ambev Announces Dividend

The firm 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 yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 23rd. Ambev’s dividend payout ratio is 10.00%.

Insider Buying and Selling

In other news, Director Ricardo Manuel Frangat Moreira sold 468,040 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $3.08, for a total value of $1,441,563.20. Following the sale, the director directly owned 3,000,000 shares in the company, valued at $9,240,000. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Ratings Changes

ABEV has been the subject of several recent research reports. UBS Group set a $2.85 price objective on shares of Ambev in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ambev in a research note on Monday, August 3rd. Barclays boosted 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. 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 research report on Saturday, August 22nd. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $3.08.

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.