Ambev SA (NYSE:ABEV) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued on Thursday.
A number of other equities research analysts have also commented on ABEV. Zacks Investment Research lowered Ambev SA from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Morgan Stanley lowered Ambev SA from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $6.00 to $6.40 in a research report on Thursday, August 18th. They noted that the move was a valuation call.
Shares of Ambev SA (NYSE:ABEV) traded up 1.00% on Thursday, hitting $6.09. The stock had a trading volume of 8,651,044 shares. The company has a market cap of $95.60 billion, a PE ratio of 26.59 and a beta of 0.92. The stock’s 50-day moving average price is $6.06 and its 200 day moving average price is $5.62. Ambev SA has a 52 week low of $3.86 and a 52 week high of $6.32.
Several hedge funds and other institutional investors have recently bought and sold shares of ABEV. Wellington Management Group LLP increased its position in Ambev SA by 897.1% in the first quarter. Wellington Management Group LLP now owns 5,111,252 shares of the company’s stock worth $26,477,000 after buying an additional 4,598,645 shares during the last quarter. AXA increased its position in Ambev SA by 0.9% in the first quarter. AXA now owns 1,215,428 shares of the company’s stock worth $6,296,000 after buying an additional 11,429 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Ambev SA by 53.3% in the first quarter. Envestnet Asset Management Inc. now owns 248,975 shares of the company’s stock worth $1,290,000 after buying an additional 86,558 shares during the last quarter. Ameriprise Financial Inc. increased its position in Ambev SA by 137.0% in the second quarter. Ameriprise Financial Inc. now owns 16,214,102 shares of the company’s stock worth $95,826,000 after buying an additional 9,373,557 shares during the last quarter. Finally, BlackRock Group LTD increased its position in Ambev SA by 10.1% in the first quarter. BlackRock Group LTD now owns 20,956,901 shares of the company’s stock worth $108,556,000 after buying an additional 1,924,991 shares during the last quarter. Institutional investors and hedge funds own 7.21% of the company’s stock.
About Ambev SA
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.
Receive News & Ratings for Ambev SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambev SA and related companies with MarketBeat.com's FREE daily email newsletter.