Truist Financial Corp Sells 38,895 Shares of Ambev S.A. (NYSE:ABEV)

Truist Financial Corp lowered its position in shares of Ambev S.A. (NYSE:ABEV) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,037 shares of the company’s stock after selling 38,895 shares during the quarter. Truist Financial Corp’s holdings in Ambev were worth $1,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its stake in shares of Ambev by 6.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 832,822 shares of the company’s stock worth $2,349,000 after purchasing an additional 49,000 shares during the last quarter. Ninety One North America Inc. purchased a new position in Ambev in the 1st quarter valued at approximately $41,415,000. Transcend Capital Advisors LLC purchased a new position in Ambev in the 2nd quarter valued at approximately $32,000. Veracity Capital LLC grew its stake in Ambev by 8.0% in the 2nd quarter. Veracity Capital LLC now owns 208,776 shares of the company’s stock valued at $664,000 after buying an additional 15,547 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in Ambev by 23.1% in the 2nd quarter. Janiczek Wealth Management LLC now owns 31,635 shares of the company’s stock valued at $101,000 after buying an additional 5,939 shares in the last quarter. Hedge funds and other institutional investors own 8.37% of the company’s stock.

Ambev Stock Up 3.4 %

ABEV opened at $2.70 on Monday. The company has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.85. The firm has a market capitalization of $42.53 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 2.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.11 and a quick ratio of 0.65. Ambev S.A. has a one year low of $2.40 and a one year high of $3.24.

Ambev (NYSE:ABEV) last released 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 18.24% and a return on equity of 17.95%. The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.60 billion. Equities research analysts expect that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABEV has been the subject of a number of recent research reports. Bank of America upgraded shares of Ambev from a “neutral” rating to a “buy” rating in a research note on Monday, July 10th. StockNews.com lowered shares of Ambev from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, TheStreet lowered shares of Ambev from a “b” rating to a “c+” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.