Truist Financial Corp Decreases Stock Holdings in Anheuser-Busch InBev SA/NV (NYSE:BUD)

Truist Financial Corp reduced its holdings in shares of Anheuser-Busch InBev SA/NV (NYSE:BUD) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,968 shares of the consumer goods maker’s stock after selling 1,996 shares during the quarter. Truist Financial Corp’s holdings in Anheuser-Busch InBev SA/NV were worth $2,266,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. DAVENPORT & Co LLC raised its holdings in Anheuser-Busch InBev SA/NV by 36.8% during the first quarter. DAVENPORT & Co LLC now owns 2,062,543 shares of the consumer goods maker’s stock worth $125,389,000 after purchasing an additional 555,362 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Anheuser-Busch InBev SA/NV by 672.3% in the 2nd quarter. Renaissance Technologies LLC now owns 600,300 shares of the consumer goods maker’s stock valued at $34,907,000 after purchasing an additional 522,575 shares during the period. Janus Henderson Group PLC purchased a new position in Anheuser-Busch InBev SA/NV during the 1st quarter worth approximately $18,226,000. Raymond James & Associates increased its position in Anheuser-Busch InBev SA/NV by 33.7% during the second quarter. Raymond James & Associates now owns 726,470 shares of the consumer goods maker’s stock worth $42,244,000 after buying an additional 183,301 shares during the period. Finally, Seafarer Capital Partners LLC lifted its stake in Anheuser-Busch InBev SA/NV by 20.2% in the first quarter. Seafarer Capital Partners LLC now owns 952,000 shares of the consumer goods maker’s stock valued at $57,863,000 after buying an additional 160,000 shares during the last quarter. Hedge funds and other institutional investors own 5.53% of the company’s stock.

Anheuser-Busch InBev SA/NV Trading Down 0.3 %

Shares of BUD stock opened at $64.07 on Friday. The business’s fifty day moving average price is $62.86 and its 200 day moving average price is $61.64. The firm has a market capitalization of $115.15 billion, a PE ratio of 26.92, a P/E/G ratio of 1.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.51. Anheuser-Busch InBev SA/NV has a 1-year low of $52.36 and a 1-year high of $67.49.

Anheuser-Busch InBev SA/NV (NYSE:BUD) last released its quarterly earnings data on Thursday, August 1st. The consumer goods maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.84 by $0.06. The business had revenue of $15.33 billion for the quarter, compared to analyst estimates of $15.21 billion. Anheuser-Busch InBev SA/NV had a net margin of 9.89% and a return on equity of 14.77%. During the same period in the previous year, the firm earned $0.72 EPS. As a group, sell-side analysts forecast that Anheuser-Busch InBev SA/NV will post 3.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup raised shares of Anheuser-Busch InBev SA/NV from a “neutral” rating to a “buy” rating in a report on Tuesday, October 1st. Evercore ISI upgraded shares of Anheuser-Busch InBev SA/NV to a “strong-buy” rating in a research note on Monday, September 30th. UBS Group upgraded Anheuser-Busch InBev SA/NV from a “neutral” rating to a “buy” rating in a research report on Monday, June 24th. TD Cowen cut Anheuser-Busch InBev SA/NV from a “buy” rating to a “hold” rating and increased their price objective for the stock from $68.00 to $88.00 in a research report on Tuesday. Finally, Morgan Stanley boosted their target price on Anheuser-Busch InBev SA/NV from $68.50 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Anheuser-Busch InBev SA/NV presently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

Anheuser-Busch InBev SA/NV Profile

Anheuser-Busch InBev SA/NV produces, distributes, exports, markets, and sells beer and beverages. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands.