FFT Wealth Management LLC Has $111,000 Position in Ambev S.A. (ABEV)
FFT Wealth Management LLC lowered its stake in shares of Ambev S.A. (NYSE:ABEV) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,292 shares of the company’s stock after selling 3,197 shares during the period. FFT Wealth Management LLC’s holdings in Ambev were worth $111,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ABEV. BlackRock Inc. boosted its position in shares of 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 during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Ambev by 2,289.5% in the second quarter. BNP Paribas Arbitrage SA now owns 17,749,400 shares of the company’s stock valued at $97,444,000 after buying an additional 17,006,598 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of 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 during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Ambev during the first quarter valued at about $48,973,000. Finally, Vontobel Asset Management Inc. boosted its position in shares of 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 during the last quarter. 7.29% of the stock is currently owned by institutional investors.
Ambev S.A. (NYSE:ABEV) opened at 6.24 on Thursday. Ambev S.A. has a 52-week low of $4.70 and a 52-week high of $6.39. The stock has a market cap of $98.01 billion, a PE ratio of 26.11 and a beta of 0.66. The firm has a 50-day moving average price of $6.02 and a 200 day moving average price of $5.75.
Ambev (NYSE:ABEV) last released its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.33 billion. On average, analysts forecast that Ambev S.A. will post $0.23 earnings per share for the current fiscal year.
Several research analysts recently issued reports on ABEV shares. Zacks Investment Research raised Ambev from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Monday, July 10th. Barclays PLC reaffirmed 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 given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.10.
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.
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