Hsbc Holdings PLC Sells 7,470 Shares of Ambev S.A. (NYSE:ABEV)

Hsbc Holdings PLC trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,872,121 shares of the company’s stock after selling 7,470 shares during the quarter. Hsbc Holdings PLC’s holdings in Ambev were worth $3,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ABEV. CANADA LIFE ASSURANCE Co grew its position in Ambev by 5.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,545,370 shares of the company’s stock worth $21,270,000 after acquiring an additional 423,792 shares during the last quarter. Kiltearn Partners LLP increased its stake in shares of Ambev by 234.8% in the fourth quarter. Kiltearn Partners LLP now owns 5,868,100 shares of the company’s stock valued at $16,431,000 after buying an additional 4,115,300 shares in the last quarter. Sei Investments Co. increased its stake in shares of Ambev by 14.0% in the first quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock valued at $22,551,000 after buying an additional 1,114,392 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Ambev by 8.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock valued at $176,000 after buying an additional 5,767 shares during the last quarter. Finally, Perpetual Ltd lifted its position in Ambev by 10.1% during the 1st quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after buying an additional 5,943,974 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Stock Up 0.9 %

Shares of NYSE:ABEV opened at $2.33 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 5.27 and a beta of 1.05. The company has a 50 day moving average of $2.26 and a 200-day moving average of $2.28. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 16.94%. During the same quarter in the previous year, the business earned $0.03 EPS. On average, sell-side analysts forecast that Ambev S.A. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABEV has been the subject of several research reports. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. UBS Group lowered their price target on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.75.

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.