Ambev (NYSE:ABEV) Sees Unusually-High Trading Volume

Ambev S.A. (NYSE:ABEV) saw strong trading volume on Wednesday . 66,370,849 shares changed hands during trading, an increase of 260% from the previous session’s volume of 18,444,820 shares.The stock last traded at $2.55 and had previously closed at $2.50.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group decreased their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com lowered Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Ambev presently has an average rating of “Hold” and a consensus price target of $2.75.

Ambev Price Performance

The firm has a 50-day simple moving average of $2.29 and a two-hundred day simple moving average of $2.27. The company has a market capitalization of $40.33 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 5.23 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same period 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.

Institutional Investors Weigh In On Ambev

Institutional investors have recently modified their holdings of the business. Perpetual Ltd lifted its stake in Ambev by 10.1% in the 1st quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock valued at $161,210,000 after buying an additional 5,943,974 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Ambev by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after buying an additional 7,412,395 shares in the last quarter. Seafarer Capital Partners LLC lifted its stake in Ambev by 12.3% in the 2nd quarter. Seafarer Capital Partners LLC now owns 28,299,000 shares of the company’s stock worth $58,013,000 after purchasing an additional 3,100,000 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Ambev by 29.4% in the 2nd quarter. Pzena Investment Management LLC now owns 18,385,312 shares of the company’s stock worth $37,690,000 after purchasing an additional 4,179,978 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in Ambev by 23.9% in the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after purchasing an additional 2,982,621 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

About Ambev

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.