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.
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.
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