Ambev (NYSE:ABEV) Earns Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Ambev (NYSE:ABEV) in a research note issued on Tuesday. The firm set a “buy” rating on the stock.

Ambev Stock Performance

NYSE:ABEV opened at $1.90 on Tuesday. The company has a market cap of $29.93 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 6.67 and a beta of 1.05. Ambev has a fifty-two week low of $1.88 and a fifty-two week high of $2.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The stock has a fifty day moving average price of $2.21 and a 200-day moving average price of $2.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of Ambev by 154.0% in the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock valued at $3,701,000 after purchasing an additional 1,094,629 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Ambev by 26.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 947,932 shares of the company’s stock worth $1,943,000 after buying an additional 198,462 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Ambev by 323.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after buying an additional 7,570,842 shares in the last quarter. Atomi Financial Group Inc. grew its position in Ambev by 49.3% in the second quarter. Atomi Financial Group Inc. now owns 46,272 shares of the company’s stock valued at $95,000 after acquiring an additional 15,271 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Ambev by 25.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 555,617 shares of the company’s stock worth $1,139,000 after acquiring an additional 112,190 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Company 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.