Allspring Global Investments Holdings LLC Sells 994,193 Shares of Ambev S.A. $ABEV

Allspring Global Investments Holdings LLC decreased its stake in shares of Ambev S.A. (NYSE:ABEV) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,326,552 shares of the company’s stock after selling 994,193 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Ambev worth $36,610,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Monument Capital Management purchased a new position in shares of Ambev in the 4th quarter worth about $25,000. First Trust Advisors LP bought a new position in Ambev in the 3rd quarter worth about $25,000. Integrated Wealth Concepts LLC purchased a new stake in Ambev during the 1st quarter valued at about $26,000. IHT Wealth Management LLC purchased a new stake in Ambev during the 4th quarter valued at about $27,000. Finally, S Harris Financial Group LLC bought a new stake in Ambev during the 4th quarter valued at about $28,000. 8.13% of the stock is owned by institutional investors.

Ambev Trading Up 0.2%

NYSE:ABEV opened at $3.04 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 12 month low of $2.10 and a 12 month high of $3.45. The company has a market cap of $47.84 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.77 and a beta of 0.64. The company has a 50 day simple moving average of $3.15 and a two-hundred day simple moving average of $2.99.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Ambev had a return on equity of 16.63% and a net margin of 17.69%.The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.38 billion. Research analysts forecast that Ambev S.A. will post 0.2 earnings per share for the current year.

Ambev Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Wednesday, June 24th will be given a $0.0092 dividend. This represents a $0.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, June 24th. Ambev’s dividend payout ratio (DPR) is presently 10.53%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABEV shares. Barclays lifted their target price on shares of Ambev from $3.00 to $3.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. UBS Group raised their price target on shares of Ambev from $2.65 to $2.90 and gave the company a “sell” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Ambev from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Scotiabank lowered shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday. Finally, Weiss Ratings cut Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $3.09.

Insider Activity

In other Ambev news, insider Paulo Andre Zagman sold 136,250 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $3.41, for a total transaction of $464,612.50. Following the completion of the sale, the insider directly owned 230,535 shares in the company, valued at $786,124.35. The trade was a 37.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.