Ambev S.A. $ABEV Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in Ambev S.A. (NYSE:ABEV) by 23.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 42,553,928 shares of the company’s stock after selling 13,190,388 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Ambev were worth $102,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. State of Wyoming lifted its stake in shares of Ambev by 11.3% in the 1st quarter. State of Wyoming now owns 39,606 shares of the company’s stock valued at $92,000 after purchasing an additional 4,030 shares during the period. Signaturefd LLC increased its holdings in Ambev by 63.2% in the second quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock valued at $31,000 after buying an additional 4,924 shares in the last quarter. Jeppson Wealth Management LLC raised its position in shares of Ambev by 7.5% in the second quarter. Jeppson Wealth Management LLC now owns 75,205 shares of the company’s stock worth $181,000 after acquiring an additional 5,250 shares during the period. Tranquilli Financial Advisor LLC raised its position in shares of Ambev by 37.3% in the first quarter. Tranquilli Financial Advisor LLC now owns 20,943 shares of the company’s stock worth $49,000 after acquiring an additional 5,685 shares during the period. Finally, Renasant Bank boosted its stake in shares of Ambev by 32.9% during the 1st quarter. Renasant Bank now owns 24,690 shares of the company’s stock worth $58,000 after acquiring an additional 6,114 shares in the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABEV shares. UBS Group cut their price target on Ambev from $2.50 to $2.20 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Sanford C. Bernstein restated a “market perform” rating and issued a $2.88 price objective on shares of Ambev in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ambev in a research report on Monday. Finally, Zacks Research raised shares of Ambev from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $2.53.

Ambev Stock Performance

NYSE ABEV opened at $2.62 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $2.34 and its 200-day simple moving average is $2.34. The company has a market cap of $41.21 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.70. Ambev S.A. has a 1-year low of $1.76 and a 1-year high of $2.63.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Ambev had a return on equity of 15.81% and a net margin of 17.90%.The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.97 billion. As a group, equities research analysts anticipate that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.