Ambev S.A. (NYSE:ABEV) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its stake in Ambev S.A. (NYSE:ABEV) by 54.2% during the third quarter, Holdings Channel reports. The institutional investor owned 22,968 shares of the company’s stock after acquiring an additional 8,077 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Ambev were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Ambev by 13.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 704,122 shares of the company’s stock worth $1,746,000 after purchasing an additional 85,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Ambev by 8.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock worth $176,000 after buying an additional 5,767 shares in the last quarter. SG Americas Securities LLC grew its position in Ambev by 12.5% during the first quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock valued at $116,000 after buying an additional 5,217 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Ambev by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 1,328,697 shares of the company’s stock valued at $3,295,000 after buying an additional 10,948 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Ambev by 14.0% in the first quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock worth $22,551,000 after acquiring an additional 1,114,392 shares during the period. 8.13% of the stock is owned by institutional investors and hedge funds.

Ambev Price Performance

NYSE:ABEV opened at $2.21 on Thursday. The stock has a 50 day moving average of $2.32 and a two-hundred day moving average of $2.26. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $3.00. The firm has a market cap of $34.82 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 5.11 and a beta of 1.06. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ABEV shares. StockNews.com assumed coverage on Ambev in a research note on Friday, October 18th. They issued a “buy” rating for the company. UBS Group cut their price objective 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ambev presently has an average rating of “Hold” and an average price target 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.