Guggenheim Capital LLC Takes $952,000 Position in Ambev S.A. (NYSE:ABEV)

Guggenheim Capital LLC acquired a new stake in shares of Ambev S.A. (NYSE:ABEV) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 337,602 shares of the company’s stock, valued at approximately $952,000.

Other large investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its stake in shares of Ambev by 117.5% in the first quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock worth $27,000 after acquiring an additional 4,448 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Ambev during the fourth quarter worth $29,000. SVB Wealth LLC acquired a new position in Ambev during the second quarter worth $29,000. Hamilton Capital LLC acquired a new position in Ambev during the first quarter worth $33,000. Finally, MGO One Seven LLC acquired a new position in Ambev during the first quarter worth $34,000. 8.37% of the stock is owned by institutional investors and hedge funds.

Ambev Stock Performance

NYSE:ABEV opened at $2.77 on Monday. The company has a quick ratio of 0.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.88. Ambev S.A. has a 12-month low of $2.40 and a 12-month high of $3.24. The firm has a market capitalization of $43.63 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11.

Ambev (NYSE:ABEV) last announced its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Ambev had a net margin of 17.21% and a return on equity of 17.05%. The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.60 billion. Research analysts anticipate that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ABEV shares. Sanford C. Bernstein started coverage on shares of Ambev in a report on Wednesday, May 24th. They set an “outperform” rating and a $3.74 price target for the company. Bank of America upgraded shares of Ambev from a “neutral” rating to a “buy” rating in a report on Monday, July 10th. Finally, StockNews.com began 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, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $3.74.

Ambev Profile

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.