Eldred Rock Partners LLC Purchases 412,189 Shares of Ambev S.A. $ABEV

Eldred Rock Partners LLC raised its holdings in Ambev S.A. (NYSE:ABEV) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,962,046 shares of the company’s stock after buying an additional 412,189 shares during the quarter. Ambev accounts for approximately 2.2% of Eldred Rock Partners LLC’s holdings, making the stock its 25th biggest holding. Eldred Rock Partners LLC’s holdings in Ambev were worth $8,926,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC boosted its position in shares of Ambev by 16.2% during the 3rd quarter. Merit Financial Group LLC now owns 70,745 shares of the company’s stock valued at $158,000 after acquiring an additional 9,846 shares in the last quarter. Ethic Inc. lifted its stake in Ambev by 6.1% during the third quarter. Ethic Inc. now owns 690,310 shares of the company’s stock worth $1,539,000 after purchasing an additional 39,734 shares during the period. Archford Capital Strategies LLC bought a new position in Ambev during the third quarter worth about $2,081,000. Blue Trust Inc. boosted its holdings in Ambev by 14.7% during the third quarter. Blue Trust Inc. now owns 196,934 shares of the company’s stock valued at $439,000 after purchasing an additional 25,310 shares in the last quarter. Finally, BSW Wealth Partners grew its stake in shares of Ambev by 225.5% in the 3rd quarter. BSW Wealth Partners now owns 47,514 shares of the company’s stock valued at $106,000 after purchasing an additional 32,916 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Price Performance

Ambev stock opened at $2.46 on Thursday. The business’s 50-day simple moving average is $2.45 and its 200 day simple moving average is $2.34. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $38.76 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 2.69 and a beta of 0.70. Ambev S.A. has a 12-month low of $1.76 and a 12-month high of $2.63.

Ambev (NYSE:ABEV) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Ambev had a return on equity of 15.81% and a net margin of 17.90%. As a group, research analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 22nd will be paid a $0.049 dividend. This represents a yield of 1,465.0%. The ex-dividend date of this dividend is Monday, December 22nd. Ambev’s dividend payout ratio is presently 188.89%.

Analyst Ratings Changes

ABEV has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Ambev in a research report on Monday. Sanford C. Bernstein reissued a “market perform” rating and set a $2.88 price objective on shares of Ambev in a report on Wednesday, November 26th. Finally, Zacks Research upgraded shares of Ambev from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $2.53.

Ambev Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.