Sanford C. Bernstein began coverage on shares of Ambev (NYSE:ABEV – Get Rating) in a research note issued to investors on Wednesday morning, The Fly reports. The firm issued an outperform rating and a $3.74 price objective on the stock.
Separately, StockNews.com cut Ambev from a strong-buy rating to a buy rating in a research report on Thursday, May 11th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, Ambev presently has a consensus rating of Buy and an average target price of $3.74.
Ambev Stock Up 2.1 %
ABEV opened at $2.94 on Wednesday. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $2.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.63 and a current ratio of 0.99. Ambev has a one year low of $2.40 and a one year high of $3.24. The stock has a market capitalization of $46.31 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06.
Institutional Investors Weigh In On Ambev
A number of institutional investors have recently added to or reduced their stakes in ABEV. Toroso Investments LLC boosted its stake in shares of Ambev by 6.1% during the 1st quarter. Toroso Investments LLC now owns 101,573 shares of the company’s stock worth $286,000 after acquiring an additional 5,798 shares in the last quarter. Putnam Investments LLC purchased a new stake in shares of Ambev during the 1st quarter worth approximately $310,000. JPMorgan Chase & Co. boosted its stake in shares of Ambev by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 36,312,283 shares of the company’s stock worth $102,401,000 after acquiring an additional 754,570 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Ambev during the 1st quarter worth approximately $73,000. Finally, Advisory Services Network LLC boosted its stake in shares of Ambev by 14.4% during the 1st quarter. Advisory Services Network LLC now owns 76,766 shares of the company’s stock worth $216,000 after acquiring an additional 9,649 shares in the last quarter. Hedge funds and other institutional investors own 8.75% of the company’s stock.
Ambev SA engages in the production, distribution, and sale of beverages. Its products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. It operates through the following geographical segments: Brazil, and Central America and The Caribbean (CAC), and Canada. The Brazil segment focuses on the beer sales division and the NAB sales division.
- Get a free copy of the StockNews.com research report on Ambev (ABEV)
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