BNP Paribas Arbitrage SA increased its stake in Ambev SA (NYSE:ABEV) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 847,150 shares of the company’s stock after buying an additional 141,985 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ambev SA were worth $5,159,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in Ambev SA during the second quarter valued at about $96,835,000. Vontobel Asset Management Inc. raised its position in Ambev SA by 11.9% in the second quarter. Vontobel Asset Management Inc. now owns 126,832,028 shares of the company’s stock valued at $757,975,000 after buying an additional 13,507,084 shares during the last quarter. Ameriprise Financial Inc. raised its position in Ambev SA by 137.0% in the second quarter. Ameriprise Financial Inc. now owns 16,214,102 shares of the company’s stock valued at $95,826,000 after buying an additional 9,373,557 shares during the last quarter. Oaktree Capital Management LP acquired a new position in Ambev SA during the second quarter valued at about $24,026,000. Finally, Wellington Management Group LLP raised its position in Ambev SA by 897.1% in the first quarter. Wellington Management Group LLP now owns 5,111,252 shares of the company’s stock valued at $26,477,000 after buying an additional 4,598,645 shares during the last quarter. Institutional investors and hedge funds own 7.58% of the company’s stock.
Ambev SA (NYSE:ABEV) traded down 4.06% during midday trading on Friday, reaching $4.96. 7,318,571 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $5.69 and its 200-day moving average is $5.76. Ambev SA has a 12-month low of $3.86 and a 12-month high of $6.34. The stock has a market capitalization of $77.87 billion, a price-to-earnings ratio of 22.55 and a beta of 0.77.
The business also recently announced a dividend, which will be paid on Monday, December 5th. Shareholders of record on Thursday, November 3rd will be paid a $0.0514 dividend. This is an increase from Ambev SA’s previous dividend of $0.04. The ex-dividend date is Tuesday, November 1st.
ABEV has been the subject of several recent research reports. Barclays PLC initiated coverage on shares of Ambev SA in a report on Thursday, November 3rd. They set an “equal weight” rating and a $6.00 target price for the company. Goldman Sachs Group Inc. reissued a “buy” rating and set a $6.80 price target on shares of Ambev SA in a research report on Monday, October 10th. TheStreet downgraded shares of Ambev SA from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $6.00 to $6.40 in a research report on Thursday, August 18th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised shares of Ambev SA from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a research report on Thursday, November 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $6.16.
About Ambev SA
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.