13,887 Shares in Ambev S.A. (NYSE:ABEV) Acquired by Private Advisor Group LLC

Private Advisor Group LLC purchased a new stake in Ambev S.A. (NYSE:ABEV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,887 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Management Group Inc. acquired a new stake in shares of Ambev in the 2nd quarter valued at about $19,149,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ambev by 323.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after acquiring an additional 7,570,842 shares during the period. Renaissance Technologies LLC grew its position in shares of Ambev by 27.7% during the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock worth $69,973,000 after acquiring an additional 7,412,395 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Ambev by 324.8% in the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after acquiring an additional 6,364,592 shares during the period. Finally, Kiltearn Partners LLP increased its holdings in shares of Ambev by 43.3% in the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after acquiring an additional 4,407,800 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Stock Down 2.7 %

Shares of Ambev stock opened at $2.17 on Friday. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00. The company has a market cap of $34.19 billion, a P/E ratio of 12.06, a PEG ratio of 6.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The firm has a fifty day moving average of $2.32 and a two-hundred day moving average of $2.26.

Analysts Set New Price Targets

Several research analysts have issued reports on ABEV shares. StockNews.com initiated coverage on shares of Ambev in a research report on Friday, October 18th. They set a “buy” rating on the stock. UBS Group lowered their price target on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ambev has an average rating of “Hold” and an average target price of $2.75.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.