Oppenheimer & Co. Inc. Sells 35,905 Shares of Ambev S.A. (NYSE:ABEV)

Oppenheimer & Co. Inc. reduced its position in shares of Ambev S.A. (NYSE:ABEV) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 799,552 shares of the company’s stock after selling 35,905 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ambev were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. lifted its stake in shares of Ambev by 32.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock valued at $2,606,000 after purchasing an additional 258,875 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in Ambev by 37.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 17,685 shares of the company’s stock valued at $43,000 after purchasing an additional 4,861 shares during the last quarter. Savvy Advisors Inc. acquired a new position in Ambev in the third quarter valued at about $53,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Ambev by 62.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,400 shares of the company’s stock worth $135,000 after buying an additional 21,300 shares during the last quarter. Finally, Seafarer Capital Partners LLC grew its position in shares of Ambev by 6.3% during the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after buying an additional 1,770,000 shares during the period. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Stock Performance

NYSE:ABEV opened at $2.21 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The business’s 50-day simple moving average is $2.31 and its 200-day simple moving average is $2.25. Ambev S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. The stock has a market capitalization of $34.82 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 6.88 and a beta of 1.06.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABEV. UBS Group cut their price target on shares of 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 initiated coverage on shares of Ambev in a research note 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 issued a buy rating to the company’s stock. According to MarketBeat, Ambev presently has an average rating of “Hold” and a consensus 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.