Envestnet Asset Management Inc. Increases Stock Holdings in Ambev S.A. (NYSE:ABEV)

Posted by on Mar 2nd, 2023

Envestnet Asset Management Inc. lifted its position in shares of Ambev S.A. (NYSE:ABEV – Get Rating) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,306,884 shares of the company’s stock after buying an additional 18,852 shares during the period. Envestnet Asset Management Inc.’s holdings in Ambev were worth $6,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC lifted its position in Ambev by 4.9% in the third quarter. Checchi Capital Advisers LLC now owns 78,692 shares of the company’s stock valued at $223,000 after buying an additional 3,658 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Ambev by 3.8% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 101,551 shares of the company’s stock worth $287,000 after purchasing an additional 3,684 shares during the period. Scotia Capital Inc. boosted its position in shares of Ambev by 0.3% during the 2nd quarter. Scotia Capital Inc. now owns 1,270,909 shares of the company’s stock worth $3,190,000 after purchasing an additional 3,727 shares during the period. Moors & Cabot Inc. grew its stake in shares of Ambev by 7.2% in the second quarter. Moors & Cabot Inc. now owns 61,500 shares of the company’s stock valued at $154,000 after buying an additional 4,150 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Ambev by 117.5% in the first quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock valued at $27,000 after buying an additional 4,448 shares in the last quarter. Institutional investors and hedge funds own 8.75% of the company’s stock.

Ambev Stock Up 1.2 %

ABEV stock opened at $2.58 on Thursday. The company’s 50 day moving average price is $2.62 and its 200 day moving average price is $2.83. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.71 and a beta of 1.01. Ambev S.A. has a fifty-two week low of $2.40 and a fifty-two week high of $3.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.83 and a current ratio of 1.19.

Ambev Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, January 9th. Stockholders of record on Wednesday, December 21st were issued a $0.1457 dividend. The ex-dividend date was Tuesday, December 20th. This represents a dividend yield of 3.8%. Ambev’s payout ratio is 75.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABEV. UBS Group upgraded shares of Ambev from a “sell” rating to a “buy” rating in a research note on Thursday, January 12th. StockNews.com upgraded shares of Ambev from a “hold” rating to a “buy” rating in a report on Saturday, February 11th. Finally, TheStreet upgraded shares of Ambev from a “c+” rating to a “b” rating in a report on Friday, December 9th.

Ambev Profile

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Ambev SA engages in the production, distribution, and sale of beverages. Its products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. It operates through the following geographical segments: Brazil, and Central America and The Caribbean (CAC), and Canada. The Brazil segment focuses on the beer sales division and the NAB sales division.

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Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

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