AQR Capital Management LLC Sells 962,539 Shares of Ambev S.A. (NYSE:ABEV)

AQR Capital Management LLC trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 37.8% during the second quarter, HoldingsChannel reports. The firm owned 1,581,723 shares of the company’s stock after selling 962,539 shares during the quarter. AQR Capital Management LLC’s holdings in Ambev were worth $3,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Management Group Inc. bought a new stake in Ambev in the 2nd quarter valued at $19,149,000. Allspring Global Investments Holdings LLC lifted its position in Ambev by 323.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after acquiring an additional 7,570,842 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 acquiring an additional 7,412,395 shares in the last quarter. Marshall Wace LLP lifted its position in Ambev by 324.8% in the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after acquiring an additional 6,364,592 shares in the last quarter. Finally, Perpetual Ltd lifted its position in Ambev by 10.1% in the 1st quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock valued at $161,210,000 after acquiring an additional 5,943,974 shares in the last quarter. 8.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ABEV shares. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.75.

Ambev Trading Down 2.2 %

Shares of NYSE:ABEV opened at $2.42 on Tuesday. The company’s 50-day moving average price is $2.31 and its two-hundred day moving average price is $2.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00. The stock has a market capitalization of $38.05 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 5.23 and a beta of 1.05.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 16.94%. During the same period in the previous year, the business earned $0.03 EPS. On average, equities analysts forecast that Ambev S.A. will post 0.17 EPS for the current fiscal year.

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.