Envestnet Portfolio Solutions Inc. Sells 8,150 Shares of Ambev S.A. (NYSE:ABEV)

Envestnet Portfolio Solutions Inc. reduced its position in Ambev S.A. (NYSE:ABEV) by 11.5% during the second quarter, Holdings Channel reports. The institutional investor owned 62,637 shares of the company’s stock after selling 8,150 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Ambev were worth $128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GSG Advisors LLC boosted its stake in Ambev by 732.4% in the second quarter. GSG Advisors LLC now owns 497,718 shares of the company’s stock valued at $1,015,000 after acquiring an additional 437,922 shares in the last quarter. Unison Advisors LLC boosted its position in shares of Ambev by 2.9% in the 2nd quarter. Unison Advisors LLC now owns 298,463 shares of the company’s stock worth $612,000 after purchasing an additional 8,500 shares in the last quarter. Eldred Rock Partners LLC grew its stake in Ambev by 156.8% during the 2nd quarter. Eldred Rock Partners LLC now owns 1,227,459 shares of the company’s stock worth $2,516,000 after buying an additional 749,546 shares during the last quarter. CHICAGO TRUST Co NA acquired a new position in Ambev during the 2nd quarter valued at about $129,000. Finally, Foundation Resource Management Inc. raised its stake in Ambev by 141.5% in the second quarter. Foundation Resource Management Inc. now owns 6,833,061 shares of the company’s stock valued at $14,008,000 after buying an additional 4,003,433 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Barclays cut their price target on shares of Ambev from $3.00 to $2.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Finally, UBS Group lowered their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.75.

Ambev Stock Performance

ABEV opened at $2.40 on Friday. The firm has a 50 day moving average of $2.16 and a two-hundred day moving average of $2.32. The firm has a market capitalization of $37.81 billion, a PE ratio of 12.63, a P/E/G ratio of 3.14 and a beta of 1.06. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00.

Ambev (NYSE:ABEV) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 17.16%. During the same period in the previous year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.