Ambev S.A. (ABEV) Downgraded by BidaskClub to “Sell”
BidaskClub lowered shares of Ambev S.A. (NYSE:ABEV) from a hold rating to a sell rating in a research note issued to investors on Thursday.
Several other analysts have also recently weighed in on the company. Credit Suisse Group upgraded Ambev from a neutral rating to an outperform rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded Ambev from a hold rating to a buy rating and set a $6.00 price target on the stock in a report on Monday, July 10th. Evercore ISI restated an outperform rating and set a $8.50 price target (up from $7.00) on shares of Ambev in a report on Friday, October 13th. Finally, Barclays PLC restated a hold rating on shares of Ambev in a report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $7.28.
Shares of Ambev (NYSE ABEV) traded down $0.12 during trading hours on Thursday, hitting $6.17. The stock had a trading volume of 43,746,524 shares, compared to its average volume of 21,066,334. The company has a market capitalization of $98.60 billion, a price-to-earnings ratio of 27.30 and a beta of 0.71. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.08.
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A number of hedge funds have recently made changes to their positions in the stock. Vontobel Asset Management Inc. boosted its holdings in Ambev by 4.6% in the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock valued at $942,525,000 after acquiring an additional 7,409,229 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Ambev by 17.3% in the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock valued at $472,786,000 after buying an additional 12,723,137 shares during the period. Vanguard Group Inc. lifted its stake in Ambev by 0.5% in the second quarter. Vanguard Group Inc. now owns 40,388,366 shares of the company’s stock valued at $221,732,000 after buying an additional 192,012 shares during the period. Artisan Partners Limited Partnership lifted its stake in Ambev by 275.2% in the second quarter. Artisan Partners Limited Partnership now owns 31,901,018 shares of the company’s stock valued at $175,137,000 after buying an additional 23,398,802 shares during the period. Finally, Mondrian Investment Partners LTD lifted its stake in Ambev by 9.8% in the second quarter. Mondrian Investment Partners LTD now owns 31,056,100 shares of the company’s stock valued at $170,498,000 after buying an additional 2,774,000 shares during the period. Institutional investors and hedge funds own 7.32% of the company’s stock.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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