Oldfield Partners LLP Sells 558,800 Shares of Ambev S.A. (NYSE:ABEV)

Oldfield Partners LLP cut its stake in shares of Ambev S.A. (NYSE:ABEV) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,363,300 shares of the company’s stock after selling 558,800 shares during the period. Ambev accounts for about 1.8% of Oldfield Partners LLP’s portfolio, making the stock its 11th biggest position. Oldfield Partners LLP’s holdings in Ambev were worth $6,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MCIA Inc purchased a new stake in shares of Ambev in the third quarter worth approximately $25,000. Insight Inv LLC purchased a new position in Ambev during the 4th quarter worth $25,000. HTLF Bank purchased a new position in Ambev during the 3rd quarter worth $26,000. Wealthstream Advisors Inc. purchased a new position in Ambev during the 3rd quarter worth $29,000. Finally, Exchange Traded Concepts LLC bought a new stake in Ambev during the 4th quarter valued at $30,000. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABEV shares. Barclays lowered their price objective on Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Citigroup reaffirmed a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. StockNews.com began coverage on Ambev in a research report on Monday. They set a “buy” rating for the company. Finally, Bank of America lowered Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ambev currently has a consensus rating of “Hold” and a consensus price target of $2.45.

Ambev Trading Up 0.3 %

ABEV stock opened at $1.86 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 12-month low of $1.76 and a 12-month high of $2.72. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 5.44 and a beta of 1.05. The business’s 50-day moving average is $1.99 and its 200 day moving average is $2.18.

Ambev Cuts Dividend

The business also recently announced an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.0414 per share. This represents a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, December 23rd. Ambev’s dividend payout ratio is currently 38.89%.

About Ambev

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.