Janney Montgomery Scott LLC Reduces Stock Position in Ambev S.A. (NYSE:ABEV)

Janney Montgomery Scott LLC reduced its holdings in shares of Ambev S.A. (NYSE:ABEV) by 29.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,360 shares of the company’s stock after selling 8,373 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ambev were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ABEV. Private Management Group Inc. lifted its stake in shares of Ambev by 43.8% during the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after buying an additional 4,087,442 shares in the last quarter. Altrius Capital Management Inc purchased a new stake in Ambev in the 3rd quarter worth approximately $8,630,000. Allspring Global Investments Holdings LLC lifted its stake in Ambev by 33.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,236,234 shares of the company’s stock worth $32,296,000 after purchasing an additional 3,322,952 shares in the last quarter. Meritage Portfolio Management purchased a new stake in Ambev in the 3rd quarter worth approximately $4,645,000. Finally, Seafarer Capital Partners LLC lifted its stake in Ambev by 6.3% in the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after purchasing an additional 1,770,000 shares in the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Price Performance

ABEV stock opened at $1.88 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.72. The firm’s fifty day moving average is $1.92 and its 200 day moving average is $2.15. The firm has a market cap of $29.54 billion, a P/E ratio of 10.42, a P/E/G ratio of 5.56 and a beta of 1.04.

Ambev Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, January 9th. Investors of record on Monday, December 23rd were issued a dividend of $0.0414 per share. This represents a dividend yield of 1.93%. The ex-dividend date was Monday, December 23rd. Ambev’s dividend payout ratio is currently 38.89%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup reiterated a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Barclays decreased their price target on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Bank of America lowered shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, StockNews.com assumed coverage on shares of Ambev in a report on Monday, January 27th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.45.

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.