23,935 Shares in Ambev S.A. (NYSE:ABEV) Acquired by First Affirmative Financial Network

First Affirmative Financial Network acquired a new position in shares of Ambev S.A. (NYSE:ABEV) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,935 shares of the company’s stock, valued at approximately $58,000.

Other hedge funds have also recently made changes to their positions in the company. Radnor Capital Management LLC purchased a new position in shares of Ambev during the 1st quarter worth approximately $25,000. HighPoint Advisor Group LLC purchased a new position in Ambev in the 4th quarter valued at approximately $31,000. Lake Street Advisors Group LLC purchased a new position in Ambev in the 1st quarter valued at approximately $28,000. Foster Group Inc. purchased a new position in Ambev in the 3rd quarter valued at approximately $33,000. Finally, Abacus Wealth Partners LLC purchased a new position in Ambev in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Price Performance

Shares of ABEV opened at $2.31 on Monday. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The firm’s fifty day simple moving average is $2.34 and its 200-day simple moving average is $2.27. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 5.34 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02.

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

Analysts Set New Price Targets

ABEV has been the subject of several recent research reports. UBS Group decreased their price target on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company 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 report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ambev has a consensus rating of “Hold” and a consensus price target of $2.75.

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.