Ambev S.A. (NYSE:ABEV) Sees Large Growth in Short Interest

Ambev S.A. (NYSE:ABEV) was the recipient of a large growth in short interest during the month of September. As of September 29th, there was short interest totalling 33,827,152 shares, a growth of 13.3% from the September 15th total of 29,848,182 shares. Based on an average daily trading volume, of 20,823,598 shares, the short-interest ratio is presently 1.6 days.

Several brokerages have issued reports on ABEV. Barclays PLC reiterated an “equal weight” rating on shares of Ambev in a research note on Saturday. Zacks Investment Research lowered shares of Ambev from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub lowered shares of Ambev from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Evercore ISI set a $9.00 price objective on shares of Ambev and gave the stock a “buy” rating in a research note on Sunday, October 15th. Finally, Credit Suisse Group upgraded shares of Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Ambev currently has a consensus rating of “Hold” and an average price target of $7.28.

Ambev (NYSE:ABEV) opened at 6.39 on Friday. Ambev has a 52 week low of $4.70 and a 52 week high of $7.03. The firm has a market cap of $100.37 billion, a price-to-earnings ratio of 26.74 and a beta of 0.66. The company has a 50-day moving average of $6.67 and a 200-day moving average of $6.06.

Ambev (NYSE:ABEV) last posted its earnings results on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Ambev had a net margin of 19.89% and a return on equity of 23.61%. Equities research analysts forecast that Ambev will post $0.21 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of ABEV. Great West Life Assurance Co. Can bought a new position in Ambev during the 1st quarter valued at about $427,000. UBS Asset Management Americas Inc. bought a new position in Ambev during the 1st quarter valued at about $224,000. Raymond James Financial Services Advisors Inc. lifted its stake in Ambev by 49.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 39,709 shares of the company’s stock valued at $229,000 after acquiring an additional 13,087 shares during the period. PNC Financial Services Group Inc. lifted its stake in Ambev by 21.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 54,961 shares of the company’s stock valued at $317,000 after acquiring an additional 9,857 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Ambev by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 40,196,354 shares of the company’s stock valued at $231,531,000 after acquiring an additional 607,365 shares during the period. Institutional investors and hedge funds own 7.31% of the company’s stock.

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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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