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

Allspring Global Investments Holdings LLC trimmed its stake in Ambev S.A. (NYSE:ABEV) by 7.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,326,552 shares of the company’s stock after selling 994,193 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ambev were worth $36,610,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Monument Capital Management purchased a new position in Ambev during the fourth quarter valued at $25,000. Integrated Advisors Network LLC purchased a new stake in Ambev in the first quarter worth about $31,000. IHT Wealth Management LLC bought a new position in shares of Ambev in the fourth quarter worth about $27,000. First Trust Advisors LP bought a new position in shares of Ambev in the third quarter worth about $25,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Ambev during the 1st quarter valued at about $26,000. 8.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Paulo Andre Zagman sold 136,250 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $3.41, for a total transaction of $464,612.50. Following the completion of the transaction, the insider directly owned 230,535 shares of the company’s stock, valued at approximately $786,124.35. This trade represents a 37.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

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

Ambev Stock Up 0.2%

Shares of ABEV opened at $3.04 on Monday. The business’s 50 day moving average is $3.15 and its 200 day moving average is $2.99. 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 capitalization 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.

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

Ambev Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Wednesday, June 24th will be given a dividend of $0.0092 per share. The ex-dividend date is Wednesday, June 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. Ambev’s dividend payout ratio is currently 10.53%.

Ambev Company 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.