Ambev S.A. (NYSE:ABEV) Sees Significant Decrease in Short Interest

Ambev S.A. (NYSE:ABEV) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 68,380,000 shares, a decline of 5.1% from the November 15th total of 72,090,000 shares. Based on an average daily trading volume, of 25,850,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Ambev

Several large investors have recently modified their holdings of the stock. Private Management Group Inc. acquired a new position in Ambev in the second quarter worth $19,149,000. Allspring Global Investments Holdings LLC grew its position in shares of Ambev by 323.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after buying an additional 7,570,842 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ambev by 27.7% during the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock worth $69,973,000 after acquiring an additional 7,412,395 shares during the period. Marshall Wace LLP lifted its holdings in Ambev by 324.8% in the second quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock worth $17,064,000 after acquiring an additional 6,364,592 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its stake in Ambev by 43.3% in the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after acquiring an additional 4,407,800 shares during the period. Institutional investors own 8.13% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Ambev in a research report on Friday, October 18th. They set a “buy” rating on the stock.

Ambev Stock Down 3.0 %

Shares of NYSE:ABEV opened at $2.08 on Tuesday. The firm has a market cap of $32.69 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. The company has a fifty day simple moving average of $2.24 and a 200 day simple moving average of $2.23. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev has a 12-month low of $2.01 and a 12-month high of $3.00.

Ambev Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, January 9th. Stockholders of record on Monday, December 23rd will be given a $0.0414 dividend. This represents a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, December 23rd. Ambev’s payout ratio is currently 72.22%.

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.