Eldred Rock Partners LLC Trims Stake in Ambev S.A. $ABEV

Eldred Rock Partners LLC cut its holdings in shares of Ambev S.A. (NYSE:ABEV) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,560,200 shares of the company’s stock after selling 401,846 shares during the quarter. Ambev comprises approximately 2.3% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 26th biggest position. Eldred Rock Partners LLC’s holdings in Ambev were worth $8,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co raised its holdings in Ambev by 74.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock valued at $32,624,000 after buying an additional 5,740,155 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Ambev by 12.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 36,058,376 shares of the company’s stock worth $80,410,000 after buying an additional 3,864,844 shares during the period. Marshall Wace LLP increased its position in shares of Ambev by 192.7% during the second quarter. Marshall Wace LLP now owns 4,208,299 shares of the company’s stock valued at $10,142,000 after acquiring an additional 2,770,698 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Ambev by 9.9% in the 2nd quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock valued at $66,288,000 after acquiring an additional 2,479,310 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Ambev in the 2nd quarter valued at approximately $5,124,000. 8.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ABEV shares. Weiss Ratings raised shares of Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 5th. Wall Street Zen cut Ambev from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays raised their price target on Ambev from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.69.

Ambev Trading Down 0.8%

NYSE ABEV opened at $2.95 on Friday. The firm has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $2.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 0.96. Ambev S.A. has a one year low of $2.10 and a one year high of $3.24. The firm has a market cap of $46.41 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.19 and a beta of 0.66.

Ambev (NYSE:ABEV) last announced its earnings results on Friday, February 13th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.28 billion. Ambev had a net margin of 17.75% and a return on equity of 16.41%. Equities research analysts anticipate that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Company Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.