JPMorgan Chase & Co. Acquires 1,924,912 Shares of Ambev S.A. (NYSE:ABEV)

JPMorgan Chase & Co. lifted its holdings in shares of Ambev S.A. (NYSE:ABEV) by 2,385.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,005,614 shares of the company’s stock after purchasing an additional 1,924,912 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ambev were worth $3,710,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Insight Inv LLC acquired a new position in Ambev during the fourth quarter valued at approximately $25,000. Naviter Wealth LLC acquired a new position in Ambev in the 4th quarter valued at $29,000. Exchange Traded Concepts LLC bought a new position in Ambev in the 4th quarter worth $30,000. Angeles Wealth Management LLC bought a new position in Ambev in the 4th quarter worth $36,000. Finally, Mondrian Investment Partners LTD lifted its position in Ambev by 40.4% during the 4th quarter. Mondrian Investment Partners LTD now owns 20,810 shares of the company’s stock worth $38,000 after acquiring an additional 5,993 shares during the last quarter. Institutional investors own 8.13% of the company’s stock.

Ambev Trading Up 3.2 %

Shares of NYSE ABEV opened at $2.41 on Monday. Ambev S.A. has a fifty-two week low of $1.76 and a fifty-two week high of $2.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The firm has a market capitalization of $37.89 billion, a P/E ratio of 13.36, a P/E/G ratio of 5.80 and a beta of 0.68. The company’s 50 day simple moving average is $2.19 and its 200 day simple moving average is $2.11.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ambev had a return on equity of 16.12% and a net margin of 17.02%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $22.42 billion. On average, analysts predict that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th were paid a $0.0221 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Tuesday, March 18th. Ambev’s payout ratio is currently 52.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on ABEV shares. Morgan Stanley downgraded Ambev from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 7th. Citigroup reissued a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. Bank of America cut Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Barclays reduced their target price on Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, StockNews.com initiated coverage on shares of Ambev in a report on Tuesday, April 15th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.