Sumitomo Mitsui Trust Group Inc. Raises Stake in Ambev S.A. (NYSE:ABEV)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Ambev S.A. (NYSE:ABEV) by 62.5% in the third quarter, HoldingsChannel.com reports. The firm owned 55,400 shares of the company’s stock after buying an additional 21,300 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ambev were worth $135,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ABEV. Seafarer Capital Partners LLC lifted its stake in Ambev by 6.3% in the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after acquiring an additional 1,770,000 shares during the period. Meritage Portfolio Management bought a new position in Ambev in the third quarter worth $4,645,000. Mesirow Financial Investment Management Inc. bought a new position in Ambev in the third quarter worth $35,000. Atria Investments Inc raised its holdings in Ambev by 84.3% in the third quarter. Atria Investments Inc now owns 214,565 shares of the company’s stock worth $524,000 after purchasing an additional 98,162 shares in the last quarter. Finally, Essex Savings Bank bought a new position in Ambev in the third quarter worth $47,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ambev Stock Down 0.7 %

Shares of ABEV stock opened at $2.17 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The stock has a 50 day moving average of $2.30 and a 200 day moving average of $2.25. The stock has a market cap of $34.11 billion, a P/E ratio of 12.03, a P/E/G ratio of 6.88 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.