Cresset Asset Management LLC Cuts Holdings in Ambev S.A. (NYSE:ABEV)

Cresset Asset Management LLC lowered its position in Ambev S.A. (NYSE:ABEV) by 92.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,756 shares of the company’s stock after selling 187,888 shares during the quarter. Cresset Asset Management LLC’s holdings in Ambev were worth $29,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Insight Inv LLC acquired a new stake in shares of Ambev during the fourth quarter worth $25,000. Naviter Wealth LLC purchased a new position in Ambev in the fourth quarter valued at about $29,000. Generation Capital Management LLC purchased a new position in Ambev in the fourth quarter valued at about $28,000. Exchange Traded Concepts LLC acquired a new stake in shares of Ambev during the fourth quarter valued at about $30,000. Finally, NewEdge Advisors LLC grew its stake in shares of Ambev by 51.4% during the fourth quarter. NewEdge Advisors LLC now owns 17,084 shares of the company’s stock valued at $32,000 after acquiring an additional 5,798 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Stock Performance

Shares of ABEV stock opened at $2.55 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $2.39 and a two-hundred day moving average of $2.14. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.64. The company has a market cap of $40.18 billion, a P/E ratio of 14.17, a PEG ratio of 5.80 and a beta of 0.80.

Ambev (NYSE:ABEV) last issued its earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Ambev had a return on equity of 16.12% and a net margin of 17.02%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $22.40 billion. As a group, analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, May 19th will be given a dividend of $0.0219 per share. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 5%. Ambev’s dividend payout ratio is presently 68.75%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABEV shares. StockNews.com initiated coverage on Ambev in a research note on Wednesday, April 23rd. They set a “buy” rating for the company. Morgan Stanley downgraded Ambev from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 7th. Citigroup reiterated a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. UBS Group downgraded Ambev from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 22nd. Finally, Barclays lifted their target price on Ambev from $2.00 to $2.50 and gave the company an “equal weight” rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.70.

About Ambev

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.