Mirae Asset Global Investments Co. Ltd. Grows Holdings in Ambev S.A. (NYSE:ABEV)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ambev S.A. (NYSE:ABEV) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 913,104 shares of the company’s stock after acquiring an additional 20,837 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambev were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. HTLF Bank bought a new stake in shares of Ambev during the 3rd quarter valued at $26,000. MCIA Inc bought a new stake in Ambev during the third quarter valued at about $25,000. Wealthstream Advisors Inc. purchased a new position in shares of Ambev in the third quarter valued at about $29,000. Riversedge Advisors LLC bought a new position in shares of Ambev in the third quarter worth about $31,000. Finally, BSW Wealth Partners purchased a new stake in shares of Ambev during the third quarter worth about $33,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Stock Up 0.8 %

NYSE ABEV opened at $1.86 on Tuesday. The stock has a 50 day moving average price of $1.94 and a 200-day moving average price of $2.16. Ambev S.A. has a one year low of $1.76 and a one year high of $2.72. The company has a market capitalization of $29.22 billion, a P/E ratio of 10.31, a P/E/G ratio of 5.56 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Ambev Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, January 9th. Shareholders of record on Monday, December 23rd were paid a $0.0414 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a dividend yield of 1.93%. Ambev’s payout ratio is currently 33.33%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays lowered their price target on Ambev from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Citigroup restated a “neutral” rating on shares of Ambev in a research report on Wednesday, January 22nd. StockNews.com assumed coverage on shares of Ambev in a report on Monday, January 27th. They issued a “buy” rating on the stock. Finally, Bank of America downgraded shares of Ambev from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.45.

Ambev 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.