Ambev S.A. (ABEV) Stake Increased by Advisors Asset Management Inc.
Advisors Asset Management Inc. boosted its stake in Ambev S.A. (NYSE:ABEV) by 84.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,785 shares of the company’s stock after buying an additional 96,002 shares during the period. Advisors Asset Management Inc.’s holdings in Ambev were worth $1,152,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Ambev by 12,519.6% in the first quarter. BlackRock Inc. now owns 29,177,225 shares of the company’s stock valued at $168,061,000 after buying an additional 28,946,020 shares in the last quarter. William Blair Investment Management LLC raised its stake in Ambev by 356.4% in the first quarter. William Blair Investment Management LLC now owns 16,941,557 shares of the company’s stock valued at $97,583,000 after buying an additional 13,229,322 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Ambev during the first quarter valued at about $48,973,000. Vontobel Asset Management Inc. raised its stake 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 buying an additional 7,409,229 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Ambev by 39.5% in the first quarter. Bank of America Corp DE now owns 18,976,130 shares of the company’s stock valued at $109,302,000 after buying an additional 5,371,159 shares in the last quarter. Hedge funds and other institutional investors own 7.29% of the company’s stock.
Shares of Ambev S.A. (NYSE ABEV) opened at 6.23 on Tuesday. The firm has a market capitalization of $97.86 billion, a price-to-earnings ratio of 25.85 and a beta of 0.66. Ambev S.A. has a 52-week low of $4.70 and a 52-week high of $6.39. The firm has a 50-day moving average of $6.02 and a 200 day moving average of $5.75.
Ambev (NYSE:ABEV) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. Analysts predict that Ambev S.A. will post $0.23 EPS for the current year.
Several research firms have issued reports on ABEV. Zacks Investment Research lowered shares of Ambev from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Barclays PLC restated a “hold” rating on shares of Ambev in a research report on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ambev has an average rating of “Buy” and a consensus target price of $6.10.
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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