CORDA Investment Management LLC. Takes $11.99 Million Position in Ambev S.A. (NYSE:ABEV)

CORDA Investment Management LLC. bought a new position in shares of Ambev S.A. (NYSE:ABEV) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,479,555 shares of the company’s stock, valued at approximately $11,987,000.

Several other large investors also recently bought and sold shares of the stock. MCIA Inc purchased a new position in shares of Ambev in the 3rd quarter valued at about $25,000. Wealthstream Advisors Inc. acquired a new position in Ambev in the third quarter valued at approximately $29,000. BSW Wealth Partners purchased a new position in Ambev in the third quarter valued at approximately $33,000. Insight Inv LLC acquired a new stake in Ambev during the fourth quarter worth approximately $25,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Ambev during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Stock Performance

Shares of ABEV stock opened at $2.11 on Friday. The stock’s 50-day moving average price is $1.86 and its 200 day moving average price is $2.14. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $33.16 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 5.80 and a beta of 1.04. Ambev S.A. has a 52-week low of $1.76 and a 52-week high of $2.72.

Ambev (NYSE:ABEV) last released its earnings results on Wednesday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ambev had a net margin of 17.02% and a return on equity of 16.12%. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $22.42 billion. As a group, equities research analysts forecast that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, April 14th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0221 per share. The ex-dividend date of this dividend is Tuesday, March 18th. Ambev’s payout ratio is currently 38.89%.

Analysts Set New Price Targets

A number of research firms recently commented on ABEV. Barclays dropped their target price on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. StockNews.com assumed coverage on Ambev in a report on Monday, January 27th. They set a “buy” rating on the stock. Citigroup reissued a “neutral” rating on shares of Ambev in a report on Wednesday, January 22nd. Finally, Bank of America lowered Ambev from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently 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.