Great West Life Assurance Co. Can boosted its stake in shares of Ambev SA (NYSE:ABEV) by 162.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,069 shares of the company’s stock after acquiring an additional 199,233 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Ambev were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Ambev by 17.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock worth $472,786,000 after acquiring an additional 12,723,137 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ambev by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 40,388,366 shares of the company’s stock worth $221,732,000 after acquiring an additional 192,012 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Ambev by 275.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 31,901,018 shares of the company’s stock worth $175,137,000 after acquiring an additional 23,398,802 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Ambev by 9.3% in the 3rd quarter. Fisher Asset Management LLC now owns 25,636,847 shares of the company’s stock worth $168,947,000 after acquiring an additional 2,174,227 shares in the last quarter. Finally, Harding Loevner LP raised its position in shares of Ambev by 1.8% in the 2nd quarter. Harding Loevner LP now owns 24,323,634 shares of the company’s stock worth $133,537,000 after acquiring an additional 420,020 shares in the last quarter. Institutional investors own 7.39% of the company’s stock.
ABEV has been the subject of several research reports. Zacks Investment Research raised Ambev from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Monday, October 2nd. BidaskClub lowered Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th. Evercore ISI set a $9.00 price objective on Ambev and gave the company a “buy” rating in a research report on Sunday, October 15th. TheStreet lowered Ambev from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Ambev in a research report on Saturday, October 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Ambev has a consensus rating of “Hold” and a consensus price target of $7.83.
Shares of Ambev SA (ABEV) opened at $6.46 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.76 and a current ratio of 0.95. Ambev SA has a 52 week low of $4.89 and a 52 week high of $7.03. The company has a market capitalization of $101,540.00, a price-to-earnings ratio of 8.08 and a beta of 0.69.
The firm also recently announced a special dividend, which will be paid on Monday, January 8th. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.0958 per share. This is an increase from Ambev’s previous special dividend of $0.05. The ex-dividend date of this dividend is Tuesday, December 19th. Ambev’s dividend payout ratio (DPR) is currently 18.75%.
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Ambev Company Profile
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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