UBS Group Upgrades Ambev (ABEV) to “Outperform”

Ambev (NYSE:ABEV) was upgraded by stock analysts at UBS Group from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, The Fly reports.

A number of other brokerages have also weighed in on ABEV. Zacks Investment Research raised shares of Ambev from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Barclays reaffirmed an “equal weight” rating and issued a $7.00 price target (up previously from $6.00) on shares of Ambev in a research note on Friday, October 27th. Evercore ISI reaffirmed an “outperform” rating and issued a $8.50 price target (up previously from $7.00) on shares of Ambev in a research note on Friday, October 13th. BidaskClub lowered shares of Ambev from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Finally, TheStreet lowered shares of Ambev from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Ambev presently has a consensus rating of “Hold” and a consensus target price of $7.83.

Ambev (NYSE ABEV) traded up $0.08 during trading on Friday, reaching $6.54. 25,849,490 shares of the company traded hands, compared to its average volume of 18,344,203. Ambev has a twelve month low of $5.30 and a twelve month high of $7.04. The company has a market cap of $102,685.20, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.08.

Several hedge funds have recently made changes to their positions in ABEV. AKO Capital LLP bought a new stake in shares of Ambev in the third quarter worth $1,023,000. BlackRock Inc. lifted its position in shares of Ambev by 13.2% in the fourth quarter. BlackRock Inc. now owns 37,564,941 shares of the company’s stock worth $242,670,000 after purchasing an additional 4,382,990 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ambev by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 90,277,034 shares of the company’s stock worth $592,218,000 after purchasing an additional 4,159,543 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Ambev in the fourth quarter worth $20,931,000. Finally, Vontobel Asset Management Inc. lifted its position in shares of Ambev by 1.8% in the fourth quarter. Vontobel Asset Management Inc. now owns 172,699,211 shares of the company’s stock worth $1,130,975,000 after purchasing an additional 3,086,824 shares in the last quarter. 7.31% of the stock is currently owned by institutional investors and hedge funds.

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Ambev Company Profile

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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