PNC Financial Services Group Inc. Has $131,000 Position in Ambev S.A. $ABEV

PNC Financial Services Group Inc. lessened its stake in shares of Ambev S.A. (NYSE:ABEV) by 47.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,114 shares of the company’s stock after selling 51,514 shares during the period. PNC Financial Services Group Inc.’s holdings in Ambev were worth $131,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Ambev by 468.4% during the first quarter. GAMMA Investing LLC now owns 10,998 shares of the company’s stock worth $26,000 after buying an additional 9,063 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in Ambev during the first quarter worth $27,000. U.S. Capital Wealth Advisors LLC acquired a new position in Ambev during the first quarter worth $28,000. M&T Bank Corp acquired a new position in Ambev during the first quarter worth $30,000. Finally, NewEdge Advisors LLC raised its holdings in Ambev by 51.4% during the fourth quarter. NewEdge Advisors LLC now owns 17,084 shares of the company’s stock worth $32,000 after buying an additional 5,798 shares during the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analysts Set New Price Targets

ABEV has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Ambev from $2.60 to $2.70 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Barclays upped their target price on shares of Ambev from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Wall Street Zen initiated coverage on shares of Ambev in a research note on Wednesday, April 23rd. They issued a “buy” rating for the company. Hsbc Global Res upgraded shares of Ambev to a “hold” rating in a research note on Friday, August 1st. Finally, HSBC reiterated a “hold” rating on shares of Ambev in a research note on Friday, August 1st. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ambev presently has a consensus rating of “Reduce” and an average price target of $2.60.

Ambev Price Performance

ABEV opened at $2.1650 on Wednesday. The firm has a market cap of $34.12 billion, a P/E ratio of 13.53, a PEG ratio of 2.39 and a beta of 0.74. The firm has a 50-day moving average of $2.35 and a 200 day moving average of $2.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.80 and a current ratio of 1.11. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.63.

Ambev (NYSE:ABEV) last issued its earnings results on Thursday, July 31st. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Ambev had a net margin of 16.18% and a return on equity of 15.39%. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $21.84 billion. On average, research analysts expect that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Increases Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, October 14th. Investors of record on Monday, August 11th will be paid a $0.023 dividend. This is an increase from Ambev’s previous — dividend of $0.02. This represents a yield of 660.0%. The ex-dividend date of this dividend is Monday, August 11th. Ambev’s payout ratio is 31.25%.

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.