Cresset Asset Management LLC Sells 187,888 Shares of Ambev S.A. (NYSE:ABEV)

Cresset Asset Management LLC cut its stake in Ambev S.A. (NYSE:ABEV) by 92.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,756 shares of the company’s stock after selling 187,888 shares during the quarter. Cresset Asset Management LLC’s holdings in Ambev were worth $29,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABEV. Insight Inv LLC bought a new stake in Ambev during the 4th quarter valued at $25,000. Generation Capital Management LLC purchased a new stake in shares of Ambev during the 4th quarter worth $28,000. Naviter Wealth LLC purchased a new stake in shares of Ambev during the 4th quarter worth $29,000. Exchange Traded Concepts LLC purchased a new stake in Ambev in the fourth quarter valued at about $30,000. Finally, NewEdge Advisors LLC raised its stake in Ambev by 51.4% in the fourth quarter. NewEdge Advisors LLC now owns 17,084 shares of the company’s stock valued at $32,000 after buying an additional 5,798 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Ambev Trading Up 0.8%

ABEV opened at $2.55 on Tuesday. Ambev S.A. has a 12 month low of $1.76 and a 12 month high of $2.64. The stock has a market capitalization of $40.18 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 5.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The business has a fifty day moving average price of $2.39 and a 200 day moving average price of $2.14.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $22.40 billion. Ambev had a return on equity of 16.12% and a net margin of 17.02%. Sell-side analysts expect that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev Cuts Dividend

The company also recently announced a — dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, May 19th will be given a $0.0219 dividend. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 5%. Ambev’s dividend payout ratio (DPR) is presently 68.75%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ABEV shares. StockNews.com began coverage on Ambev in a report on Wednesday, April 23rd. They issued a “buy” rating on the stock. UBS Group lowered Ambev from a “buy” rating to a “neutral” rating in a report on Tuesday, April 22nd. Barclays raised their target price on Ambev from $2.00 to $2.50 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Citigroup reiterated a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. Finally, Morgan Stanley downgraded Ambev from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Ambev currently has an average rating of “Hold” and an average target price of $2.70.

Ambev Company Profile

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.