Mirae Asset Global Investments Co. Ltd. Has $2.18 Million Stake in Ambev S.A. (NYSE:ABEV)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 892,267 shares of the company’s stock after selling 58,768 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambev were worth $2,177,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABEV. Renaissance Technologies LLC grew its holdings in 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 buying an additional 7,412,395 shares during the last quarter. Seafarer Capital Partners LLC increased its position in Ambev by 12.3% during the second quarter. Seafarer Capital Partners LLC now owns 28,299,000 shares of the company’s stock worth $58,013,000 after acquiring an additional 3,100,000 shares during the period. Pzena Investment Management LLC raised its stake in Ambev by 29.4% during the 2nd quarter. Pzena Investment Management LLC now owns 18,385,312 shares of the company’s stock valued at $37,690,000 after purchasing an additional 4,179,978 shares during the last quarter. Brandes Investment Partners LP raised its stake in Ambev by 23.9% during the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock valued at $32,024,000 after purchasing an additional 2,982,621 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its holdings in Ambev by 43.3% in the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after purchasing an additional 4,407,800 shares during the period. 8.13% of the stock is owned by institutional investors and hedge funds.

Ambev Stock Performance

NYSE:ABEV opened at $2.26 on Thursday. The firm has a market capitalization of $35.52 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 5.34 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.11 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 firm has a 50-day moving average price of $2.34 and a 200 day moving average price of $2.26.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Ambev had a return on equity of 16.94% and a net margin of 17.93%. The firm 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 posted $0.03 earnings per share. Research analysts anticipate that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABEV. UBS Group cut their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com began coverage on Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Ambev presently has an average rating of “Hold” and an average target price of $2.75.

Ambev Profile

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.