Quantitative Investment Management LLC decreased its position in Ambev SA (NYSE:ABEV) by 84.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 725,200 shares of the company’s stock after selling 4,024,900 shares during the quarter. Quantitative Investment Management LLC’s holdings in Ambev were worth $4,684,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. grew its position in shares of Ambev by 1.8% during the fourth quarter. Tocqueville Asset Management L.P. now owns 4,049,783 shares of the company’s stock worth $26,162,000 after buying an additional 71,800 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Ambev during the fourth quarter worth approximately $218,000. ETRADE Capital Management LLC grew its position in shares of Ambev by 17.5% during the fourth quarter. ETRADE Capital Management LLC now owns 256,325 shares of the company’s stock worth $1,656,000 after buying an additional 38,163 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Ambev during the fourth quarter worth approximately $1,139,000. Finally, Lombard Odier Asset Management Switzerland SA grew its position in shares of Ambev by 10.5% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 4,210,200 shares of the company’s stock worth $27,198,000 after buying an additional 400,000 shares in the last quarter. 7.20% of the stock is owned by institutional investors and hedge funds.
ABEV has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Ambev from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. TheStreet upgraded Ambev from a “c+” rating to a “b” rating in a research note on Monday, March 5th. Finally, UBS Group upgraded Ambev from a “market perform” rating to an “outperform” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.83.
The company also recently disclosed a special dividend, which was paid on Monday, March 5th. Investors of record on Friday, February 2nd were paid a dividend of $0.0215 per share. The ex-dividend date was Thursday, February 1st. Ambev’s dividend payout ratio (DPR) is presently 100.01%.
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Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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