Private Management Group Inc. raised its holdings in Ambev S.A. (NYSE:ABEV - Free Report) by 43.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,428,352 shares of the company's stock after acquiring an additional 4,087,442 shares during the period. Ambev comprises about 1.2% of Private Management Group Inc.'s investment portfolio, making the stock its 25th largest holding. Private Management Group Inc. owned about 0.09% of Ambev worth $32,765,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ABEV. Allspring Global Investments Holdings LLC raised its position in Ambev by 323.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company's stock worth $20,322,000 after acquiring an additional 7,570,842 shares in the last quarter. Renaissance Technologies LLC raised its position in Ambev by 27.7% during the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company's stock valued at $69,973,000 after purchasing an additional 7,412,395 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Ambev by 324.8% in the second quarter. Marshall Wace LLP now owns 8,324,037 shares of the company's stock worth $17,064,000 after acquiring an additional 6,364,592 shares during the last quarter. Seafarer Capital Partners LLC lifted its stake in shares of Ambev by 29.9% in the 1st quarter. Seafarer Capital Partners LLC now owns 25,199,000 shares of the company's stock valued at $62,494,000 after acquiring an additional 5,800,000 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its position in Ambev by 43.3% during the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company's stock worth $29,881,000 after buying an additional 4,407,800 shares during the period. 8.13% of the stock is owned by institutional investors.
ABEV traded down $0.03 on Friday, hitting $2.15. The company had a trading volume of 19,147,092 shares, compared to its average volume of 18,828,686. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The business's fifty day simple moving average is $2.33 and its 200 day simple moving average is $2.26. The company has a market cap of $33.87 billion, a PE ratio of 11.94, a PEG ratio of 5.40 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.11 and a debt-to-equity ratio of 0.02.
Ambev (NYSE:ABEV - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.68 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. Equities research analysts expect that Ambev S.A. will post 0.17 EPS for the current year.
Several analysts have recently commented on the company. UBS Group reduced their target price on Ambev from $3.20 to $2.90 and set a "buy" rating for the company in a research note on Wednesday, July 31st. StockNews.com initiated coverage on Ambev in a research note on Friday, October 18th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ambev presently has a consensus rating of "Hold" and a consensus target price of $2.75.
Get Our Latest Stock Report on ABEV
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.
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