Zacks Investment Research Lowers Ambev S.A. (ABEV) to Hold
Ambev S.A. (NYSE:ABEV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 28th. Barclays PLC reissued a “hold” rating on shares of Ambev in a report on Sunday, July 30th. Finally, Credit Suisse Group raised shares of Ambev from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ambev has a consensus rating of “Buy” and a consensus target price of $6.48.
Ambev (ABEV) remained flat at $6.68 on Thursday. The stock had a trading volume of 21,065,952 shares. The company’s 50 day moving average is $6.48 and its 200-day moving average is $5.94. Ambev has a 52 week low of $4.70 and a 52 week high of $6.86. The company has a market capitalization of $104.92 billion, a PE ratio of 27.95 and a beta of 0.66.
Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. Equities research analysts expect that Ambev will post $0.23 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in ABEV. BlackRock Inc. raised its position in Ambev by 12,519.6% during the first quarter. BlackRock Inc. now owns 29,177,225 shares of the company’s stock worth $168,061,000 after acquiring an additional 28,946,020 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Ambev by 275.2% during the second quarter. Artisan Partners Limited Partnership now owns 31,901,018 shares of the company’s stock worth $175,137,000 after acquiring an additional 23,398,802 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Ambev by 2,289.5% during the second quarter. BNP Paribas Arbitrage SA now owns 17,749,400 shares of the company’s stock worth $97,444,000 after acquiring an additional 17,006,598 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ambev by 17.3% during the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock worth $472,786,000 after acquiring an additional 12,723,137 shares during the last quarter. Finally, Vontobel Asset Management Inc. raised its position in Ambev by 4.6% during the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock worth $942,525,000 after acquiring an additional 7,409,229 shares during the last quarter. Institutional investors own 7.30% of the company’s stock.
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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