Bank of New York Mellon Corp Purchases 198,462 Shares of Ambev S.A. (NYSE:ABEV)

Bank of New York Mellon Corp increased its holdings in shares of Ambev S.A. (NYSE:ABEV) by 26.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 947,932 shares of the company’s stock after purchasing an additional 198,462 shares during the period. Bank of New York Mellon Corp’s holdings in Ambev were worth $1,943,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Perpetual Ltd raised its holdings in shares of Ambev by 10.1% in the first quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after buying an additional 5,943,974 shares during the last quarter. Ruffer LLP grew its stake in shares of Ambev by 12.4% during the 4th quarter. Ruffer LLP now owns 51,517,699 shares of the company’s stock worth $144,494,000 after purchasing an additional 5,699,184 shares during the period. Seafarer Capital Partners LLC grew its stake in shares of Ambev by 29.9% during the 1st quarter. Seafarer Capital Partners LLC now owns 25,199,000 shares of the company’s stock worth $62,494,000 after purchasing an additional 5,800,000 shares during the period. Kiltearn Partners LLP boosted its stake in shares of Ambev by 73.3% during the 1st quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock worth $24,607,000 after acquiring an additional 4,300,000 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Ambev by 14.0% during the 1st quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock worth $22,551,000 after buying an additional 1,114,392 shares during the period. 8.13% of the stock is owned by institutional investors.

Ambev Stock Performance

NYSE ABEV opened at $2.38 on Wednesday. The company has a market cap of $37.42 billion, a P/E ratio of 12.50, a P/E/G ratio of 5.27 and a beta of 1.05. Ambev S.A. has a 1-year low of $2.01 and a 1-year high of $3.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. The stock has a 50-day moving average of $2.24 and a two-hundred day moving average of $2.29.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, August 1st. The company reported $0.03 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 analysts’ expectations of $3.56 billion. During the same period in the previous year, the firm posted $0.03 EPS. As a group, analysts anticipate that Ambev S.A. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABEV. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. UBS Group dropped 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 assigned a buy rating to the stock. According to data from MarketBeat, Ambev presently has a consensus 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.