First Eagle Investment Management LLC Sells 2,563,973 Shares of Ambev S.A. (NYSE:ABEV)

First Eagle Investment Management LLC lessened its stake in shares of Ambev S.A. (NYSE:ABEV) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,141,464 shares of the company’s stock after selling 2,563,973 shares during the period. Ambev comprises approximately 1.4% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 29th biggest holding. First Eagle Investment Management LLC owned approximately 1.97% of Ambev worth $635,790,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Sagil Capital LLP purchased a new position in Ambev during the 2nd quarter worth $8,762,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Ambev by 40.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 155,975 shares of the company’s stock valued at $318,000 after buying an additional 44,645 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Ambev by 27.7% in the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after acquiring an additional 7,412,395 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Ambev by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 5,129,849 shares of the company’s stock worth $10,516,000 after acquiring an additional 175,485 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Ambev by 7.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 809,018 shares of the company’s stock worth $1,658,000 after acquiring an additional 54,659 shares in the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Price Performance

Shares of ABEV opened at $2.39 on Thursday. The company has a 50 day moving average of $2.25 and a two-hundred day moving average of $2.29. The company has a market cap of $37.65 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 5.27 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 S.A. has a twelve month low of $2.01 and a twelve month high of $3.00.

Ambev (NYSE:ABEV) last posted its quarterly earnings data 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 return on equity of 16.94% and a net margin of 17.93%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the firm earned $0.03 EPS. As a group, analysts predict that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABEV has been the subject of a number of recent research reports. UBS Group reduced 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. StockNews.com cut Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.75.

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.