Zacks Investment Research downgraded shares of Ambev S.A. (NYSE:ABEV) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “

ABEV has been the subject of a number of other research reports. Credit Suisse Group AG upgraded Ambev from a neutral rating to an outperform rating in a research report on Tuesday, September 12th. BidaskClub lowered Ambev from a strong-buy rating to a buy rating in a research report on Thursday, September 28th. Finally, Barclays PLC restated a hold rating on shares of Ambev in a research report on Sunday, July 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ambev presently has a consensus rating of Buy and an average target price of $6.48.

Ambev (NYSE ABEV) traded down 1.05% during midday trading on Thursday, hitting $6.61. The stock had a trading volume of 15,738,043 shares. The company has a market cap of $103.82 billion, a price-to-earnings ratio of 27.66 and a beta of 0.66. The company has a 50-day moving average price of $6.50 and a 200-day moving average price of $5.95. Ambev has a 12-month low of $4.70 and a 12-month high of $6.86.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.33 billion. Equities analysts anticipate that Ambev will post $0.23 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the business. Eqis Capital Management Inc. boosted its position in Ambev by 8.6% during the 3rd quarter. Eqis Capital Management Inc. now owns 105,835 shares of the company’s stock worth $697,000 after acquiring an additional 8,340 shares during the period. Advisory Services Network LLC boosted its position in Ambev by 1.0% during the 2nd quarter. Advisory Services Network LLC now owns 179,401 shares of the company’s stock worth $985,000 after acquiring an additional 1,700 shares during the period. Schafer Cullen Capital Management Inc. boosted its position in Ambev by 16.1% during the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 1,331,471 shares of the company’s stock worth $7,310,000 after acquiring an additional 184,954 shares during the period. Cullen Capital Management LLC boosted its position in Ambev by 53.9% during the 2nd quarter. Cullen Capital Management LLC now owns 900,250 shares of the company’s stock worth $4,942,000 after acquiring an additional 315,420 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Ambev during the 2nd quarter worth $111,000. Institutional investors own 7.30% of the company’s stock.

Ambev Company Profile

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.

Analyst Recommendations for Ambev (NYSE:ABEV)

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