Mirae Asset Global Investments Co. Ltd. Reduces Stake in Ambev S.A. (NYSE:ABEV)

Mirae Asset Global Investments Co. Ltd. reduced its position in Ambev S.A. (NYSE:ABEV) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,098,698 shares of the company’s stock after selling 19,346 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambev were worth $3,152,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ABEV. Perennial Advisors LLC purchased a new position in Ambev in the 3rd quarter valued at approximately $26,000. Coldstream Capital Management Inc. purchased a new position in Ambev during the third quarter worth $26,000. Integrated Wealth Concepts LLC purchased a new position in Ambev during the third quarter worth $26,000. Ieq Capital LLC purchased a new position in Ambev during the third quarter worth $27,000. Finally, Brown Brothers Harriman & Co. increased its position in Ambev by 117.5% during the first quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock worth $27,000 after buying an additional 4,448 shares in the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABEV. StockNews.com began coverage on Ambev in a research report on Friday, January 26th. They set a “buy” rating for the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ambev in a research report on Friday, March 1st. Finally, Barclays downgraded Ambev from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $3.50 to $3.00 in a research report on Monday, March 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Ambev Price Performance

ABEV stock opened at $2.26 on Thursday. Ambev S.A. has a 52-week low of $2.24 and a 52-week high of $3.23. The stock’s fifty day simple moving average is $2.50 and its 200-day simple moving average is $2.63. The company has a quick ratio of 0.66, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $35.52 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08.

Ambev (NYSE:ABEV) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Ambev had a return on equity of 17.60% and a net margin of 18.19%. The business had revenue of $4.04 billion for the quarter. Equities research analysts expect that Ambev S.A. will post 0.19 EPS for the current year.

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.