Ambev SA (ABEV) Rating Reiterated by Goldman Sachs Group Inc.
Ambev SA (NYSE:ABEV)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group Inc. in a research report issued on Monday. They presently have a $6.80 target price on the stock. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 12.21% from the company’s previous close.
Several other brokerages have also commented on ABEV. TheStreet lowered shares of Ambev SA from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and upped their target price for the stock 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 company. The company presently has a consensus rating of “Hold” and an average target price of $6.05.
Ambev SA (NYSE:ABEV) traded up 0.908% during midday trading on Monday, reaching $6.115. The company had a trading volume of 1,788,110 shares. Ambev SA has a one year low of $3.86 and a one year high of $6.32. The stock’s 50 day moving average price is $6.04 and its 200-day moving average price is $5.66. The firm has a market capitalization of $96.00 billion, a P/E ratio of 26.587 and a beta of 0.82.
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A number of hedge funds have recently made changes to their positions in the stock. Vontobel Asset Management Inc. increased its stake in shares of Ambev SA by 11.9% in the second quarter. Vontobel Asset Management Inc. now owns 126,832,028 shares of the company’s stock valued at $757,975,000 after buying an additional 13,507,084 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Ambev SA by 5.5% in the second quarter. JPMorgan Chase & Co. now owns 70,916,601 shares of the company’s stock valued at $419,117,000 after buying an additional 3,687,472 shares during the period. William Blair Investment Management LLC increased its stake in shares of Ambev SA by 6.7% in the second quarter. William Blair Investment Management LLC now owns 53,076,255 shares of the company’s stock valued at $313,681,000 after buying an additional 3,331,003 shares during the period. FMR LLC increased its stake in shares of Ambev SA by 4.1% in the second quarter. FMR LLC now owns 40,456,889 shares of the company’s stock valued at $239,100,000 after buying an additional 1,593,625 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Ambev SA by 7.1% in the second quarter. Fisher Asset Management LLC now owns 23,751,960 shares of the company’s stock valued at $138,474,000 after buying an additional 1,576,979 shares during the period. 7.22% of the stock is currently owned by 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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