Advisors Asset Management Inc. cut its stake in shares of Ambev SA (NYSE:ABEV) by 49.1% during the second quarter, Holdings Channel reports. The institutional investor owned 141,668 shares of the company’s stock after selling 136,439 shares during the period. Advisors Asset Management Inc.’s holdings in Ambev SA were worth $837,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services Inc boosted its stake in shares of Ambev SA by 69.6% in the second quarter. Commonwealth Equity Services Inc now owns 23,647 shares of the company’s stock valued at $140,000 after buying an additional 9,704 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Ambev SA during the first quarter valued at about $123,000. CIBC World Markets Inc. boosted its stake in shares of Ambev SA by 144.7% in the first quarter. CIBC World Markets Inc. now owns 31,630 shares of the company’s stock valued at $164,000 after buying an additional 18,704 shares during the last quarter. Connable Office Inc. boosted its stake in shares of Ambev SA by 2.8% in the first quarter. Connable Office Inc. now owns 35,521 shares of the company’s stock valued at $184,000 after buying an additional 964 shares during the last quarter. Finally, Invictus RG boosted its stake in shares of Ambev SA by 536.6% in the first quarter. Invictus RG now owns 98,831 shares of the company’s stock valued at $512,000 after buying an additional 83,307 shares during the last quarter. 7.21% of the stock is owned by hedge funds and other institutional investors.
Ambev SA (NYSE:ABEV) traded down 0.575% during trading on Friday, hitting $6.055. The stock had a trading volume of 5,535,665 shares. The firm has a market cap of $95.05 billion, a price-to-earnings ratio of 27.031 and a beta of 0.92. The stock’s 50-day moving average is $6.06 and its 200 day moving average is $5.58. Ambev SA has a one year low of $3.86 and a one year high of $6.32.
ABEV has been the subject of several analyst reports. TheStreet cut Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, June 6th. Zacks Investment Research cut Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Finally, Morgan Stanley cut Ambev SA from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $6.00 to $6.40 in a report on Thursday, August 18th. They noted that the move was a valuation call.
Ambev SA 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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