Rhumbline Advisers Sells 495,177 Shares of Ambev S.A. (NYSE:ABEV)

Rhumbline Advisers lessened its holdings in Ambev S.A. (NYSE:ABEV) by 56.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 381,418 shares of the company’s stock after selling 495,177 shares during the quarter. Rhumbline Advisers’ holdings in Ambev were worth $782,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Scotia Capital Inc. boosted its stake in Ambev by 0.3% during the 4th quarter. Scotia Capital Inc. now owns 1,393,397 shares of the company’s stock worth $3,902,000 after acquiring an additional 4,509 shares during the last quarter. SG Americas Securities LLC boosted its stake in Ambev by 12.5% during the 1st quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock worth $116,000 after acquiring an additional 5,217 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Ambev by 8.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock worth $176,000 after acquiring an additional 5,767 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in Ambev by 24.1% during the 1st quarter. Janiczek Wealth Management LLC now owns 41,518 shares of the company’s stock worth $103,000 after acquiring an additional 8,051 shares during the last quarter. Finally, Unison Advisors LLC boosted its stake in Ambev by 2.9% during the 2nd quarter. Unison Advisors LLC now owns 298,463 shares of the company’s stock worth $612,000 after acquiring an additional 8,500 shares during the last quarter. Institutional investors own 8.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ABEV shares. StockNews.com downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. 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 report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.75.

Ambev Stock Up 0.4 %

Shares of NYSE ABEV opened at $2.31 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. The company has a market cap of $36.39 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 5.27 and a beta of 1.05. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $3.00. The stock has a 50-day moving average price of $2.26 and a two-hundred day moving average price of $2.28.

Ambev (NYSE:ABEV) last announced its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, analysts forecast that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

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.