Cibc World Market Inc. Acquires 221,254 Shares of Ambev S.A. $ABEV

Cibc World Market Inc. boosted its holdings in Ambev S.A. (NYSE:ABEV) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,982,701 shares of the company’s stock after acquiring an additional 221,254 shares during the period. Cibc World Market Inc.’s holdings in Ambev were worth $14,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Ambev by 248.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,135,697 shares of the company’s stock worth $32,445,000 after buying an additional 9,361,815 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Ambev by 74.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock worth $32,624,000 after buying an additional 5,740,155 shares during the period. Bank of America Corp DE increased its position in Ambev by 9.9% during the 2nd quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock worth $66,288,000 after buying an additional 2,479,310 shares during the period. Cubist Systematic Strategies LLC bought a new position in Ambev during the 2nd quarter worth $5,124,000. Finally, Morningstar Investment Management LLC bought a new position in Ambev during the 3rd quarter worth $4,550,000. Institutional investors own 8.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABEV. Wall Street Zen upgraded Ambev from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group increased their price objective on Ambev from $2.65 to $2.90 and gave the stock a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings cut Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Barclays increased their price objective on Ambev from $3.00 to $3.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ambev has a consensus rating of “Reduce” and an average target price of $3.09.

Insider Activity

In other news, insider De Lacerda Eduardo Cavalcanti sold 152,386 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $2.85, for a total transaction of $434,300.10. Following the sale, the insider directly owned 223,340 shares of the company’s stock, valued at approximately $636,519. This represents a 40.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Ambev Stock Performance

ABEV opened at $3.13 on Friday. The firm has a market cap of $49.26 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. Ambev S.A. has a 52-week low of $2.10 and a 52-week high of $3.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.78 and a current ratio of 1.03. The business’s fifty day moving average is $3.10 and its 200-day moving average is $2.86.

Ambev (NYSE:ABEV) last released its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.38 billion. Ambev had a return on equity of 16.63% and a net margin of 17.69%. Sell-side analysts expect that Ambev S.A. will post 0.21 EPS for the current fiscal year.

Ambev Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.0092 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, June 24th. Ambev’s dividend payout ratio is 57.89%.

About Ambev

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.