Geode Capital Management LLC Sells 60,313 Shares of Ambev S.A. (NYSE:ABEV)

Geode Capital Management LLC cut its position in Ambev S.A. (NYSE:ABEV) by 12.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 414,123 shares of the company’s stock after selling 60,313 shares during the quarter. Geode Capital Management LLC’s holdings in Ambev were worth $1,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABEV. Bank of New York Mellon Corp raised its position in shares of Ambev by 26.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 947,932 shares of the company’s stock valued at $1,943,000 after buying an additional 198,462 shares in the last quarter. National Bank of Canada FI raised its position in shares of Ambev by 25.0% in the 2nd quarter. National Bank of Canada FI now owns 24,489 shares of the company’s stock valued at $50,000 after buying an additional 4,900 shares in the last quarter. Caprock Group LLC increased its position in Ambev by 57.2% during the 2nd quarter. Caprock Group LLC now owns 55,575 shares of the company’s stock worth $114,000 after purchasing an additional 20,223 shares in the last quarter. Choreo LLC bought a new position in Ambev in the 2nd quarter valued at approximately $515,000. Finally, American Century Companies Inc. lifted its stake in Ambev by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 1,798,559 shares of the company’s stock valued at $3,687,000 after purchasing an additional 104,651 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Ambev in a research report on Saturday. They set a “buy” rating on the stock.

Ambev Trading Down 3.0 %

Shares of ABEV stock opened at $1.79 on Friday. The stock’s fifty day simple moving average is $2.09 and its 200 day simple moving average is $2.20. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.82. The firm has a market capitalization of $28.12 billion, a P/E ratio of 9.92, a P/E/G ratio of 6.67 and a beta of 1.05. 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 Cuts Dividend

The business also recently declared an annual dividend, which was paid on Thursday, January 9th. Shareholders of record on Monday, December 23rd were given a $0.0414 dividend. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s dividend payout ratio (DPR) is presently 38.89%.

Ambev 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.