Ambev S.A. (NYSE:ABEV) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Ambev S.A. (NYSE:ABEV) by 3.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,129,849 shares of the company’s stock after buying an additional 175,485 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ambev were worth $10,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Perpetual Ltd raised its holdings in shares of Ambev by 10.1% during the first quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after purchasing an additional 5,943,974 shares during the last quarter. Seafarer Capital Partners LLC boosted its holdings in shares of Ambev by 12.3% during the 2nd quarter. Seafarer Capital Partners LLC now owns 28,299,000 shares of the company’s stock worth $58,013,000 after purchasing an additional 3,100,000 shares during the last quarter. Pzena Investment Management LLC increased its position in Ambev by 29.4% during the second quarter. Pzena Investment Management LLC now owns 18,385,312 shares of the company’s stock worth $37,690,000 after purchasing an additional 4,179,978 shares during the last quarter. RWC Asset Management LLP raised its position in Ambev by 0.4% in the second quarter. RWC Asset Management LLP now owns 12,625,411 shares of the company’s stock valued at $25,882,000 after purchasing an additional 52,546 shares during the period. Finally, Kiltearn Partners LLP raised its position in Ambev by 73.3% in the first quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock valued at $24,607,000 after purchasing an additional 4,300,000 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Trading Up 1.1 %

Shares of Ambev stock opened at $2.36 on Friday. The firm has a market cap of $37.10 billion, a PE ratio of 12.39, a P/E/G ratio of 5.23 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 fifty-two week low of $2.01 and a fifty-two week high of $3.00. The business’s fifty day moving average is $2.27 and its two-hundred day moving average is $2.28.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same period last year, the company earned $0.03 EPS. Analysts anticipate that Ambev S.A. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

ABEV has been the topic of a number of analyst reports. UBS Group reduced their price target on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ambev presently has a consensus rating of “Hold” and an average target price 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.