Ambev SA (ABEV) Given Buy Rating at Goldman Sachs Group Inc.
Ambev SA (NYSE:ABEV)‘s stock had its “buy” rating reiterated by stock analysts at Goldman Sachs Group Inc. in a research note issued on Monday. They presently have a $6.80 price target on the stock. Goldman Sachs Group Inc.’s price target would indicate a potential upside of 12.21% from the stock’s previous close.
Several other research analysts also recently commented on the stock. TheStreet upgraded shares of Ambev SA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $6.00 to $6.40 in a research report on Thursday, August 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Ambev SA from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.05.
Ambev SA (NYSE:ABEV) traded up 0.743% on Monday, hitting $6.105. The stock had a trading volume of 1,921,309 shares. The company’s 50 day moving average is $6.04 and its 200-day moving average is $5.66. Ambev SA has a 1-year low of $3.86 and a 1-year high of $6.32. The firm has a market capitalization of $95.84 billion, a price-to-earnings ratio of 26.543 and a beta of 0.82.
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Several hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in Ambev SA during the second quarter worth $96,835,000. Vontobel Asset Management Inc. boosted its stake in Ambev SA by 11.9% in the second quarter. Vontobel Asset Management Inc. now owns 126,832,028 shares of the company’s stock worth $757,975,000 after buying an additional 13,507,084 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Ambev SA by 137.0% in the second quarter. Ameriprise Financial Inc. now owns 16,214,102 shares of the company’s stock worth $95,826,000 after buying an additional 9,373,557 shares during the last quarter. Oaktree Capital Management LP bought a new stake in Ambev SA during the second quarter worth $24,026,000. Finally, Wellington Management Group LLP boosted its stake in Ambev SA by 897.1% in the first quarter. Wellington Management Group LLP now owns 5,111,252 shares of the company’s stock worth $26,477,000 after buying an additional 4,598,645 shares during the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.
About Ambev SA
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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