Anheuser Busch Inbev NV (BUD) Shares Gap Down Following Weak Earnings

Shares of Anheuser Busch Inbev NV (NYSE:BUD) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $124.03, but opened at $121.56. Anheuser Busch Inbev NV shares last traded at $120.41, with a volume of 5,685,935 shares.

The consumer goods maker reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.19). The firm had revenue of $14.74 billion during the quarter, compared to the consensus estimate of $15 billion. Anheuser Busch Inbev NV’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS.

Several brokerages have recently weighed in on BUD. BidaskClub cut Anheuser Busch Inbev NV from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Berenberg Bank reiterated a “buy” rating on shares of Anheuser Busch Inbev NV in a report on Wednesday, September 13th. Stifel Nicolaus reiterated a “buy” rating on shares of Anheuser Busch Inbev NV in a report on Friday, July 28th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Anheuser Busch Inbev NV in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded Anheuser Busch Inbev NV from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $127.39.

A number of institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in shares of Anheuser Busch Inbev NV by 0.8% during the second quarter. Franklin Resources Inc. now owns 8,950,919 shares of the consumer goods maker’s stock worth $987,823,000 after acquiring an additional 70,245 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Anheuser Busch Inbev NV by 1.9% during the third quarter. Fisher Asset Management LLC now owns 5,818,807 shares of the consumer goods maker’s stock worth $694,184,000 after acquiring an additional 111,246 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Anheuser Busch Inbev NV by 12.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,170,017 shares of the consumer goods maker’s stock worth $349,844,000 after acquiring an additional 352,595 shares during the period. Fayez Sarofim & Co. boosted its holdings in shares of Anheuser Busch Inbev NV by 2.1% during the second quarter. Fayez Sarofim & Co. now owns 1,086,459 shares of the consumer goods maker’s stock worth $119,901,000 after acquiring an additional 22,252 shares during the period. Finally, Banco BTG Pactual S.A. boosted its holdings in shares of Anheuser Busch Inbev NV by 30.3% during the second quarter. Banco BTG Pactual S.A. now owns 695,420 shares of the consumer goods maker’s stock worth $76,747,000 after acquiring an additional 161,544 shares during the period. Institutional investors and hedge funds own 5.52% of the company’s stock.

The stock has a market capitalization of $231.44 billion, a P/E ratio of 59.67 and a beta of 1.07. The stock has a 50 day moving average price of $121.56 and a 200 day moving average price of $117.10.

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Anheuser Busch Inbev NV Company Profile

Anheuser Busch Inbev NV (AB InBev) is a Belgium-based company engaged in the brewers industry. The Company owns a portfolio of over 200 beer brands. The Company’s brand portfolio includes global brands, such as Budweiser, Corona and Stella Artois; international brands, including Beck’s, Leffe and Hoegaarden, and local champions, such as Bud Light, Skol, Brahma, Antarctica, Quilmes, Victoria, Modelo Especial, Michelob Ultra, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske, Cass and Jupiler.

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