Meritage Portfolio Management Sells 108,196 Shares of Ambev S.A. (NYSE:ABEV)

Meritage Portfolio Management lowered its position in Ambev S.A. (NYSE:ABEV) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,795,527 shares of the company’s stock after selling 108,196 shares during the period. Meritage Portfolio Management’s holdings in Ambev were worth $3,322,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. MCIA Inc bought a new stake in shares of Ambev in the third quarter worth about $25,000. Insight Inv LLC acquired a new position in shares of Ambev in the 4th quarter valued at approximately $25,000. HTLF Bank bought a new stake in Ambev during the 3rd quarter worth approximately $26,000. Wealthstream Advisors Inc. acquired a new stake in Ambev during the 3rd quarter worth approximately $29,000. Finally, Exchange Traded Concepts LLC bought a new stake in Ambev in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup restated a “neutral” rating on shares of Ambev in a research note on Wednesday, January 22nd. StockNews.com started coverage on Ambev in a research report on Monday, January 27th. They set a “buy” rating on the stock. Barclays cut their target price on shares of Ambev from $2.50 to $2.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Bank of America downgraded Ambev from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.45.

Ambev Trading Down 0.3 %

ABEV opened at $1.84 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.72. The stock has a market capitalization of $28.91 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 5.59 and a beta of 1.04. The company has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $2.17.

Ambev Cuts Dividend

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

Ambev Company Profile

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.