National Bank of Canada FI Acquires 4,900 Shares of Ambev S.A. (NYSE:ABEV)

National Bank of Canada FI raised its stake in Ambev S.A. (NYSE:ABEV) by 25.0% in the second quarter, Holdings Channel reports. The fund owned 24,489 shares of the company’s stock after purchasing an additional 4,900 shares during the quarter. National Bank of Canada FI’s holdings in Ambev were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its holdings in shares of Ambev by 15.9% during the 4th quarter. QRG Capital Management Inc. now owns 34,701 shares of the company’s stock valued at $97,000 after acquiring an additional 4,763 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Ambev by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 89,154 shares of the company’s stock valued at $250,000 after purchasing an additional 18,310 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Ambev by 7.7% during the fourth quarter. Panagora Asset Management Inc. now owns 139,681 shares of the company’s stock valued at $391,000 after purchasing an additional 9,959 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Ambev during the fourth quarter worth about $162,000. Finally, UBS Group AG raised its holdings in Ambev by 5.1% in the 4th quarter. UBS Group AG now owns 4,510,827 shares of the company’s stock valued at $12,630,000 after buying an additional 220,153 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABEV shares. UBS Group reduced their target price on shares of Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.75.

Ambev Stock Performance

NYSE:ABEV opened at $2.31 on Friday. The company has a market capitalization of $36.39 billion, a PE ratio of 12.16, a P/E/G ratio of 5.27 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 company has a 50 day simple moving average of $2.23 and a two-hundred day simple moving average of $2.29.

Ambev (NYSE:ABEV) last posted 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 analysts’ expectations of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 16.94%. During the same period in the prior year, the company posted $0.03 earnings per share. Research analysts anticipate that Ambev S.A. will post 0.17 earnings per share for the current year.

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.