Empowered Funds LLC Takes Position in Ambev S.A. (NYSE:ABEV)

Empowered Funds LLC purchased a new position in shares of Ambev S.A. (NYSE:ABEV) in the third quarter, HoldingsChannel reports. The firm purchased 60,822 shares of the company’s stock, valued at approximately $148,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HTLF Bank acquired a new stake in Ambev in the 3rd quarter valued at approximately $26,000. Wealthstream Advisors Inc. purchased a new position in shares of Ambev during the third quarter worth $29,000. Riversedge Advisors LLC acquired a new stake in shares of Ambev in the third quarter valued at $31,000. Foster Group Inc. purchased a new stake in shares of Ambev in the 3rd quarter valued at $33,000. Finally, BSW Wealth Partners acquired a new position in Ambev during the 3rd quarter worth about $33,000. 8.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com began coverage on shares of Ambev in a research note on Friday, October 18th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2.70.

Ambev Stock Performance

Shares of ABEV stock opened at $2.19 on Wednesday. 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 12-month low of $2.01 and a 12-month high of $3.00. The company has a market cap of $34.50 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 6.82 and a beta of 1.06. The stock has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $2.24.

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.