Oppenheimer & Co. Inc. Has $1.71 Million Stock Holdings in Ambev S.A. (NYSE:ABEV)

Oppenheimer & Co. Inc. lessened its stake in shares of Ambev S.A. (NYSE:ABEV) by 37.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 835,457 shares of the company’s stock after selling 493,240 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ambev were worth $1,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABEV. Private Management Group Inc. acquired a new position in Ambev during the second quarter valued at approximately $19,149,000. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $20,322,000 after purchasing an additional 7,570,842 shares during the last quarter. Perpetual Ltd grew its stake in shares of Ambev by 10.1% in the first quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after acquiring an additional 5,943,974 shares during the last quarter. Seafarer Capital Partners LLC increased its position in Ambev by 29.9% during the first quarter. Seafarer Capital Partners LLC now owns 25,199,000 shares of the company’s stock worth $62,494,000 after acquiring an additional 5,800,000 shares during the period. Finally, Ruffer LLP increased its position in Ambev by 12.4% during the fourth quarter. Ruffer LLP now owns 51,517,699 shares of the company’s stock worth $144,494,000 after acquiring an additional 5,699,184 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Stock Up 1.9 %

ABEV opened at $2.38 on Wednesday. Ambev S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. The firm’s fifty day moving average price is $2.24 and its two-hundred day moving average price is $2.29. The company has a market capitalization of $37.42 billion, a P/E ratio of 12.50, a P/E/G ratio of 5.27 and a beta of 1.05.

Ambev (NYSE:ABEV) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Ambev had a net margin of 17.93% and a return on equity of 16.94%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company earned $0.03 earnings per share. On average, analysts anticipate that Ambev S.A. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Ambev 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.