Brokerages Set Ambev S.A. (NYSE:ABEV) Price Target at $2.75

Shares of Ambev S.A. (NYSE:ABEV) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $2.75.

A number of equities analysts have weighed in on ABEV shares. StockNews.com assumed coverage on shares of Ambev in a research note on Friday, October 18th. They set a “buy” rating on the stock. UBS Group lowered 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.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Private Management Group Inc. purchased a new position in shares of Ambev in the second quarter valued at $19,149,000. Allspring Global Investments Holdings LLC boosted its holdings in Ambev by 323.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after purchasing an additional 7,570,842 shares during the last quarter. Renaissance Technologies LLC grew its stake in Ambev by 27.7% during the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after purchasing an additional 7,412,395 shares in the last quarter. Marshall Wace LLP increased its holdings in Ambev by 324.8% during the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock worth $17,064,000 after purchasing an additional 6,364,592 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its stake in shares of Ambev by 43.3% during the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after buying an additional 4,407,800 shares during the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Trading Up 0.9 %

Shares of ABEV stock opened at $2.22 on Wednesday. The firm’s 50-day simple moving average is $2.32 and its 200-day simple moving average is $2.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. Ambev has a 1-year low of $2.01 and a 1-year high of $3.00. The firm has a market cap of $34.97 billion, a P/E ratio of 12.33, a PEG ratio of 6.75 and a beta of 1.06.

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.