Vanguard Personalized Indexing Management LLC cut its stake in shares of Ambev S.A. (NYSE:ABEV – Free Report) by 23.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,516 shares of the company’s stock after selling 17,954 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Ambev were worth $162,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ABEV. Brown Brothers Harriman & Co. boosted its stake in shares of Ambev by 117.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock valued at $27,000 after purchasing an additional 4,448 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Ambev during the 4th quarter worth about $29,000. SVB Wealth LLC bought a new position in shares of Ambev in the 2nd quarter worth about $29,000. Hamilton Capital LLC acquired a new position in shares of Ambev in the 1st quarter valued at about $33,000. Finally, MGO One Seven LLC bought a new stake in shares of Ambev during the 1st quarter valued at about $34,000. 8.37% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have issued reports on ABEV shares. Bank of America raised Ambev from a “neutral” rating to a “buy” rating in a research note on Monday, July 10th. Sanford C. Bernstein initiated coverage on shares of Ambev in a research note on Wednesday, May 24th. They set an “outperform” rating and a $3.74 target price on the stock. Finally, StockNews.com assumed coverage on shares of Ambev in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ambev currently has a consensus rating of “Buy” and a consensus target price of $3.74.
Ambev Stock Performance
NYSE ABEV opened at $2.77 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. Ambev S.A. has a 52 week low of $2.40 and a 52 week high of $3.24. The business has a 50 day moving average price of $3.00 and a 200-day moving average price of $2.88. The company has a market cap of $43.63 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 2.49 and a beta of 1.08.
Ambev (NYSE:ABEV – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Ambev had a net margin of 17.21% and a return on equity of 17.05%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.60 billion. As a group, equities analysts expect that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.
Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.
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