Engineers Gate Manager LP Has $5.77 Million Position in Ambev S.A. $ABEV

Engineers Gate Manager LP lifted its stake in Ambev S.A. (NYSE:ABEV) by 712.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,837,660 shares of the company’s stock after buying an additional 1,611,577 shares during the period. Engineers Gate Manager LP’s holdings in Ambev were worth $5,770,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in Ambev in the first quarter worth about $26,000. Millennium Management LLC increased its holdings in Ambev by 62.5% during the 1st quarter. Millennium Management LLC now owns 2,399,472 shares of the company’s stock worth $5,591,000 after purchasing an additional 922,566 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ambev by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,000,107 shares of the company’s stock worth $11,650,000 after acquiring an additional 582,153 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Ambev in the 1st quarter valued at about $33,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Ambev in the 1st quarter valued at approximately $264,000. 8.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABEV has been the topic of several recent research reports. 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 target price on Ambev in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Ambev from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Scotiabank downgraded Ambev from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ambev presently has an average rating of “Reduce” and an average target price of $3.08.

Ambev Trading Down 0.8%

Shares of Ambev stock opened at $3.02 on Friday. The stock has a market capitalization of $47.52 billion, a P/E ratio of 15.07, a P/E/G ratio of 2.21 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 debt-to-equity ratio of 0.02, a quick ratio of 0.76 and a current ratio of 1.02. The stock’s 50-day simple moving average is $2.99 and its 200 day simple moving average is $3.05.

Ambev (NYSE:ABEV) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.05 billion. As a group, research analysts anticipate that Ambev S.A. will post 0.2 EPS for the current year.

Ambev Announces Dividend

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

Insider Activity at Ambev

In other Ambev news, Director Manuel Moreira sold 468,040 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $3.08, for a total transaction of $1,441,563.20. Following the completion of the transaction, the director owned 3,000,000 shares of the company’s stock, valued at approximately $9,240,000. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ambev Profile

Ambev SA is a Brazilian beverage company and one of the largest brewers in Latin America. The company produces, distributes and sells beer, carbonated soft drinks and other nonalcoholic beverages through a portfolio of local, regional and international brands.

Its beer portfolio includes brands such as Skol, Brahma, Antarctica, Bohemia, Original, Stella Artois and Budweiser, while its nonalcoholic beverage offerings include products marketed under brands such as Guaraná Antarctica and Pepsi.