Longfellow Investment Management Co. LLC Sells 3,015,477 Shares of Ambev S.A. $ABEV

Longfellow Investment Management Co. LLC trimmed its position in Ambev S.A. (NYSE:ABEV) by 75.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 998,136 shares of the company’s stock after selling 3,015,477 shares during the quarter. Ambev makes up 0.6% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 25th biggest position. Longfellow Investment Management Co. LLC’s holdings in Ambev were worth $2,406,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Abacus Wealth Partners LLC bought a new stake in shares of Ambev in the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in Ambev during the 1st quarter valued at about $26,000. Signaturefd LLC lifted its position in shares of Ambev by 63.2% in the 2nd quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock worth $31,000 after purchasing an additional 4,924 shares during the period. R Squared Ltd bought a new position in shares of Ambev during the first quarter valued at approximately $33,000. Finally, Focus Partners Wealth purchased a new position in Ambev during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Price Performance

Shares of Ambev stock opened at $2.48 on Monday. The firm has a market cap of $39.08 billion, a PE ratio of 15.50, a P/E/G ratio of 2.19 and a beta of 0.85. Ambev S.A. has a twelve month low of $1.76 and a twelve month high of $2.63. The company has a quick ratio of 0.80, a current ratio of 1.11 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.34.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.97 billion. Ambev had a return on equity of 15.39% and a net margin of 16.18%. Sell-side analysts predict that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABEV. Zacks Research upgraded Ambev from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. HSBC restated a “hold” rating on shares of Ambev in a report on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Ambev in a research report on Wednesday. UBS Group reduced their price target on Ambev from $2.50 to $2.20 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Finally, Hsbc Global Res upgraded Ambev to a “hold” rating in a research note on Friday, August 1st. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ambev has an average rating of “Reduce” and a consensus target price of $2.35.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.