State Street Corp Has $25.44 Million Holdings in Ambev S.A. (NYSE:ABEV)

State Street Corp boosted its stake in shares of Ambev S.A. (NYSE:ABEV) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,425,374 shares of the company’s stock after purchasing an additional 878,900 shares during the quarter. State Street Corp’s holdings in Ambev were worth $25,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HTLF Bank acquired a new stake in Ambev in the 3rd quarter valued at about $26,000. Wealthstream Advisors Inc. bought a new position in Ambev in the 3rd quarter worth approximately $29,000. Riversedge Advisors LLC bought a new position in Ambev in the 3rd quarter valued at $31,000. Foster Group Inc. acquired a new stake in shares of Ambev in the 3rd quarter valued at $33,000. Finally, BSW Wealth Partners bought a new stake in shares of Ambev during the third quarter worth $33,000. 8.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Ambev Price Performance

Shares of ABEV stock opened at $2.06 on Monday. The firm’s 50 day moving average price is $2.21 and its two-hundred day moving average price is $2.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The stock has a market cap of $32.45 billion, a PE ratio of 11.44, a PEG ratio of 6.67 and a beta of 1.05. Ambev S.A. has a 52-week low of $2.01 and a 52-week high of $2.94.

Ambev Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, January 9th. Shareholders of record on Monday, December 23rd will be paid a $0.0414 dividend. This represents a yield of 1.93%. The ex-dividend date of this dividend is Monday, December 23rd. Ambev’s payout ratio is 38.89%.

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.