Fox Run Management L.L.C. Takes $145,000 Position in Ambev S.A. (ABEV)
Fox Run Management L.L.C. purchased a new position in Ambev S.A. (NYSE:ABEV) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,000 shares of the company’s stock, valued at approximately $145,000.
Other institutional investors have also recently made changes to their positions in the company. Verition Fund Management LLC purchased a new stake in shares of Ambev in the second quarter worth about $111,000. Stephens Inc. AR purchased a new stake in shares of Ambev in the second quarter worth about $132,000. Virtu Financial LLC lifted its holdings in shares of Ambev by 38.5% in the second quarter. Virtu Financial LLC now owns 28,800 shares of the company’s stock worth $158,000 after buying an additional 8,000 shares in the last quarter. Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Ambev in the second quarter worth about $162,000. Finally, Sit Investment Associates Inc. lifted its holdings in shares of Ambev by 15.1% in the second quarter. Sit Investment Associates Inc. now owns 30,725 shares of the company’s stock worth $169,000 after buying an additional 4,025 shares in the last quarter. 7.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ambev S.A. (NYSE:ABEV) opened at $6.24 on Tuesday. The company has a market cap of $96,875.80, a price-to-earnings ratio of 26.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.76 and a current ratio of 0.95.
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ABEV has been the topic of a number of recent analyst reports. Evercore ISI set a $9.00 price target on shares of Ambev and gave the stock a “buy” rating in a report on Sunday, October 15th. Zacks Investment Research raised shares of Ambev from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Monday, July 10th. BidaskClub downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. Barclays PLC reaffirmed an “equal weight” rating on shares of Ambev in a research note on Saturday, October 28th. Finally, Credit Suisse Group raised shares of Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.28.
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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