Ambev S.A. (NYSE:ABEV) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC raised its position in shares of Ambev S.A. (NYSE:ABEV) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,247 shares of the company’s stock after acquiring an additional 5,677 shares during the quarter. Ballentine Partners LLC’s holdings in Ambev were worth $164,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HTLF Bank acquired a new position in shares of Ambev during the third quarter valued at approximately $26,000. Lake Street Advisors Group LLC purchased a new stake in shares of Ambev in the first quarter valued at approximately $28,000. Riversedge Advisors LLC purchased a new stake in shares of Ambev in the third quarter valued at approximately $31,000. Foster Group Inc. purchased a new stake in shares of Ambev in the third quarter valued at approximately $33,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Ambev in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ABEV shares. StockNews.com started coverage on Ambev in a research report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group dropped their price target on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.75.

Ambev Stock Performance

Shares of Ambev stock opened at $2.28 on Wednesday. The firm has a market capitalization of $35.92 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 5.34 and a beta of 1.05. 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 quick ratio of 0.78 and a current ratio of 1.11. The stock has a 50 day moving average of $2.34 and a 200 day moving average of $2.26.

Ambev (NYSE:ABEV) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates 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, research analysts predict that Ambev S.A. will post 0.17 earnings per share for the current 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.