Oppenheimer Asset Management Inc. raised its holdings in shares of AMBEV S A/S (NYSE:ABEV) by 2,621.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,180 shares of the company’s stock after purchasing an additional 435,562 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AMBEV S A/S were worth $2,067,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Sawtooth Solutions LLC acquired a new position in shares of AMBEV S A/S during the third quarter worth $104,000. Fox Run Management L.L.C. acquired a new position in shares of AMBEV S A/S during the second quarter worth $176,000. LPL Financial LLC acquired a new position in shares of AMBEV S A/S in the 1st quarter valued at $227,000. Millennium Management LLC acquired a new position in shares of AMBEV S A/S in the 1st quarter valued at $251,000. Finally, Bailard Inc. acquired a new position in shares of AMBEV S A/S in the 2nd quarter valued at $278,000. 7.07% of the stock is currently owned by institutional investors and hedge funds.
NYSE ABEV opened at $4.46 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 1.02. AMBEV S A/S has a 1 year low of $3.86 and a 1 year high of $7.43. The firm has a market capitalization of $67.99 billion, a P/E ratio of 19.68, a PEG ratio of 2.11 and a beta of 0.55.
Several equities analysts recently issued reports on the company. Bank of America downgraded AMBEV S A/S from a “neutral” rating to an “underperform” rating and cut their target price for the company from $5.40 to $4.00 in a research report on Thursday, October 25th. JPMorgan Chase & Co. downgraded AMBEV S A/S from a “neutral” rating to an “underweight” rating in a research report on Thursday, October 25th. UBS Group downgraded AMBEV S A/S from a “buy” rating to a “sell” rating in a research report on Tuesday, October 2nd. ValuEngine raised AMBEV S A/S from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, Barclays raised AMBEV S A/S from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.13.
AMBEV S A/S Company Profile
Ambev SA engages in the production, distribution, and sale of beverages. The company products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. Its operates a distribution network that comprises beverage distributors, supermarkets, bars and restaurants, as well as small groceries, bakeries, snack bars and franchises, and points of sale in Brazil.
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