Ambev S.A. $ABEV Shares Sold by Eldred Rock Partners LLC

Eldred Rock Partners LLC decreased its stake in shares of Ambev S.A. (NYSE:ABEV) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,560,200 shares of the company’s stock after selling 401,846 shares during the quarter. Ambev makes up 2.3% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Eldred Rock Partners LLC’s holdings in Ambev were worth $8,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ABEV. Modern Wealth Management LLC acquired a new position in shares of Ambev during the third quarter worth about $25,000. First Trust Advisors LP acquired a new stake in Ambev in the third quarter valued at approximately $25,000. Integrated Wealth Concepts LLC purchased a new position in Ambev in the first quarter worth approximately $26,000. Bensler LLC purchased a new position in Ambev in the third quarter worth approximately $27,000. Finally, Foster Group Inc. acquired a new position in Ambev during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Ambev from $2.50 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen lowered Ambev from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.69.

Ambev Stock Performance

Shares of ABEV opened at $2.95 on Friday. The stock has a 50 day moving average price of $2.95 and a 200 day moving average price of $2.59. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.19 and a beta of 0.66. Ambev S.A. has a 52-week low of $2.10 and a 52-week high of $3.24.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Friday, February 13th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Ambev had a net margin of 17.75% and a return on equity of 16.41%. Research analysts predict that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Company Profile

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.