Pitcairn Co. Has $434,000 Stock Holdings in Ambev S.A. (NYSE:ABEV)

Pitcairn Co. lifted its position in shares of Ambev S.A. (NYSE:ABEV) by 80.1% during the third quarter, HoldingsChannel reports. The firm owned 177,773 shares of the company’s stock after buying an additional 79,038 shares during the quarter. Pitcairn Co.’s holdings in Ambev were worth $434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Private Management Group Inc. bought a new position in Ambev during the second quarter worth about $19,149,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ambev by 323.2% during the 2nd 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 in the last quarter. Renaissance Technologies LLC grew its position in shares of Ambev by 27.7% in 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 during the period. Marshall Wace LLP increased its stake 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 in the last quarter. Finally, Kiltearn Partners LLP increased its stake in Ambev by 43.3% during the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock worth $29,881,000 after purchasing an additional 4,407,800 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Price Performance

NYSE ABEV opened at $2.19 on Wednesday. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The firm’s 50 day moving average is $2.29 and its 200-day moving average is $2.24. The company has a market capitalization of $34.50 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 6.82 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

Several research analysts have recently weighed in on ABEV shares. StockNews.com began coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group reduced their target price 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2.70.

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.