Whittier Trust Co. reduced its stake in shares of Ambev SA (NYSE:ABEV) by 20.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,800 shares of the company’s stock after selling 15,885 shares during the period. Whittier Trust Co.’s holdings in Ambev SA were worth $371,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of ABEV. Eagle Ridge Investment Management raised its stake in shares of Ambev SA by 1.7% in the second quarter. Eagle Ridge Investment Management now owns 325,865 shares of the company’s stock worth $1,926,000 after buying an additional 5,465 shares in the last quarter. BlackRock Inc. raised its stake in shares of Ambev SA by 3.7% in the first quarter. BlackRock Inc. now owns 274,680 shares of the company’s stock worth $1,423,000 after buying an additional 9,780 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Ambev SA by 4.2% in the first quarter. Prudential Financial Inc. now owns 270,800 shares of the company’s stock worth $1,403,000 after buying an additional 11,000 shares in the last quarter. AXA raised its stake in shares of 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 in the last quarter. Finally, CIBC World Markets Inc. raised its stake in shares of Ambev SA by 50.1% in the second quarter. CIBC World Markets Inc. now owns 47,470 shares of the company’s stock worth $281,000 after buying an additional 15,840 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors.
Ambev SA (NYSE:ABEV) traded up 0.751% during midday trading on Thursday, reaching $6.035. The company’s stock had a trading volume of 10,492,679 shares. The company has a 50 day moving average price of $6.03 and a 200 day moving average price of $5.68. The firm has a market cap of $94.74 billion, a price-to-earnings ratio of 26.354 and a beta of 0.82. Ambev SA has a 1-year low of $3.86 and a 1-year high of $6.32.
A number of research firms have weighed in on ABEV. Zacks Investment Research lowered Ambev SA from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $6.80 price objective on shares of Ambev SA in a research note on Monday. TheStreet lowered Ambev SA from a “buy” rating to a “hold” rating in a research note on Thursday, September 29th. Finally, Morgan Stanley lowered Ambev SA from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $6.00 to $6.40 in a research note on Thursday, August 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ambev SA has an average rating of “Hold” and an average price target of $6.05.
Ambev SA 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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