Allspring Global Investments Holdings LLC Increases Stock Position in Ambev S.A. (NYSE:ABEV)

Allspring Global Investments Holdings LLC increased its position in shares of Ambev S.A. (NYSE:ABEV) by 39.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,519,980 shares of the company’s stock after buying an additional 5,283,746 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ambev were worth $33,892,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ABEV. Sanctuary Advisors LLC purchased a new stake in Ambev during the second quarter worth $225,000. SG Americas Securities LLC boosted its holdings in Ambev by 546.9% during the third quarter. SG Americas Securities LLC now owns 69,383 shares of the company’s stock worth $169,000 after buying an additional 58,657 shares in the last quarter. Creative Planning boosted its holdings in Ambev by 15.5% during the third quarter. Creative Planning now owns 299,592 shares of the company’s stock worth $731,000 after buying an additional 40,257 shares in the last quarter. Bfsg LLC boosted its holdings in Ambev by 70.5% during the third quarter. Bfsg LLC now owns 112,000 shares of the company’s stock worth $273,000 after buying an additional 46,300 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Ambev during the third quarter worth $64,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABEV has been the topic of several recent analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. StockNews.com initiated coverage on shares of Ambev in a report on Monday, January 27th. They set a “buy” rating on the stock. Bank of America downgraded shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Barclays decreased their price objective on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.45.

Ambev Price Performance

Shares of NYSE ABEV opened at $1.91 on Friday. The firm has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $2.15. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 5.56 and a beta of 1.04. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.72.

Ambev Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd were given a $0.0414 dividend. This represents a dividend yield of 1.93%. The ex-dividend date was Monday, December 23rd. Ambev’s dividend payout ratio (DPR) is 33.33%.

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.