Ambev S.A. (ABEV) Stake Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Ambev S.A. (NYSE:ABEV) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,898,853 shares of the company’s stock after selling 253,128 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ambev were worth $21,404,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABEV. King Luther Capital Management Corp acquired a new stake in Ambev in the 1st quarter valued at about $121,000. Aureus Asset Management LLC grew its stake in Ambev by 21.8% in the 1st quarter. Aureus Asset Management LLC now owns 22,470 shares of the company’s stock valued at $138,000 after acquiring an additional 4,015 shares during the last quarter. Virtu Financial LLC grew its stake in Ambev by 38.5% in the 2nd quarter. Virtu Financial LLC now owns 28,800 shares of the company’s stock valued at $158,000 after acquiring an additional 8,000 shares during the last quarter. Parallel Advisors LLC grew its stake in Ambev by 21.2% in the 1st quarter. Parallel Advisors LLC now owns 28,828 shares of the company’s stock valued at $168,000 after acquiring an additional 5,038 shares during the last quarter. Finally, Sit Investment Associates Inc. grew its stake in Ambev by 15.1% in the 2nd quarter. Sit Investment Associates Inc. now owns 30,725 shares of the company’s stock valued at $169,000 after acquiring an additional 4,025 shares during the last quarter. 7.29% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. Barclays PLC restated a “hold” rating on shares of Ambev in a report on Sunday, July 30th. Zacks Investment Research upgraded shares of Ambev from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Credit Suisse Group upgraded shares of Ambev from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.10.

TRADEMARK VIOLATION NOTICE: This news story was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/09/17/ambev-s-a-abev-stake-decreased-by-bank-of-new-york-mellon-corp.html.

Ambev S.A. (ABEV) opened at 6.81 on Friday. The stock has a market capitalization of $106.97 billion, a price-to-earnings ratio of 28.38 and a beta of 0.66. The stock’s 50 day moving average is $6.27 and its 200 day moving average is $5.83. Ambev S.A. has a one year low of $4.70 and a one year high of $6.82.

Ambev (NYSE:ABEV) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.04. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.33 billion. On average, equities analysts forecast that Ambev S.A. will post $0.23 EPS for the current year.

Ambev Company Profile

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.

Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

Receive News & Ratings for Ambev S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambev S.A. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply