Assetmark Inc. Acquires 103,095 Shares of Ambev S.A. $ABEV

Assetmark Inc. lifted its holdings in shares of Ambev S.A. (NYSE:ABEV) by 149.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,943 shares of the company’s stock after acquiring an additional 103,095 shares during the quarter. Assetmark Inc.’s holdings in Ambev were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abacus Wealth Partners LLC purchased a new stake in shares of Ambev during the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC bought a new position in Ambev during the first quarter valued at about $26,000. U.S. Capital Wealth Advisors LLC bought a new position in Ambev during the first quarter valued at about $28,000. M&T Bank Corp purchased a new stake in Ambev during the first quarter worth about $30,000. Finally, Signaturefd LLC increased its holdings in Ambev by 63.2% during the second quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock worth $31,000 after buying an additional 4,924 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Ambev from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. HSBC reaffirmed a “hold” rating on shares of Ambev in a report on Friday, August 1st. UBS Group reduced their price objective on Ambev from $2.50 to $2.20 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Hsbc Global Res raised Ambev to a “hold” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ambev in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $2.35.

Ambev Stock Performance

NYSE ABEV opened at $2.44 on Friday. The company’s 50 day simple moving average is $2.25 and its two-hundred day simple moving average is $2.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.80. Ambev S.A. has a 1 year low of $1.76 and a 1 year high of $2.63. The stock has a market capitalization of $38.37 billion, a PE ratio of 15.22, a P/E/G ratio of 2.19 and a beta of 0.85.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Ambev had a net margin of 16.18% and a return on equity of 15.39%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Analysts predict that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Ambev 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.