Sei Investments Co. Acquires 1,065,225 Shares of Ambev S.A. (NYSE:ABEV)

Sei Investments Co. lifted its holdings in shares of Ambev S.A. (NYSE:ABEV) by 11.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,158,409 shares of the company’s stock after purchasing an additional 1,065,225 shares during the period. Sei Investments Co.’s holdings in Ambev were worth $20,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Scotia Capital Inc. boosted its position in shares of Ambev by 0.3% during the 4th quarter. Scotia Capital Inc. now owns 1,393,397 shares of the company’s stock valued at $3,902,000 after purchasing an additional 4,509 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Ambev by 25.0% in the second quarter. National Bank of Canada FI now owns 24,489 shares of the company’s stock worth $50,000 after purchasing an additional 4,900 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Ambev by 12.5% in the first quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock worth $116,000 after purchasing an additional 5,217 shares during the last quarter. Endowment Wealth Management Inc. raised its stake in shares of Ambev by 26.1% in the second quarter. Endowment Wealth Management Inc. now owns 25,933 shares of the company’s stock worth $53,000 after purchasing an additional 5,368 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake 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 worth $176,000 after purchasing an additional 5,767 shares during the last quarter. Institutional investors own 8.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. UBS Group decreased their price target on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.75.

Ambev Stock Performance

Shares of ABEV opened at $2.33 on Thursday. The stock has a 50 day moving average of $2.26 and a 200 day moving average of $2.28. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $3.00. The company has a market capitalization of $36.63 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 5.23 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Ambev had a return on equity of 16.94% and a net margin of 17.93%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, sell-side analysts forecast 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.