British Airways Pensions Investment Management Ltd continued to hold its stake in Ambev SA (NYSE:ABEV) during the second quarter, Holdings Channel reports. The firm owned 349,780 shares of the company’s stock at the end of the second quarter. British Airways Pensions Investment Management Ltd’s holdings in Ambev SA were worth $2,075,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ABEV. Mondrian Investment Partners LTD raised its stake in Ambev SA by 2.7% in the first quarter. Mondrian Investment Partners LTD now owns 14,942,300 shares of the company’s stock valued at $77,401,000 after buying an additional 390,400 shares in the last quarter. CIBC World Markets Inc. raised its stake in 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 in the last quarter. Ngam Advisors L.P. raised its stake in Ambev SA by 688.6% in the first quarter. Ngam Advisors L.P. now owns 2,593,809 shares of the company’s stock valued at $13,436,000 after buying an additional 2,264,893 shares in the last quarter. Prudential Financial Inc. raised its stake in Ambev SA by 4.2% in the first quarter. Prudential Financial Inc. now owns 270,800 shares of the company’s stock valued at $1,403,000 after buying an additional 11,000 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new stake in Ambev SA during the first quarter valued at about $123,000. 7.21% of the stock is owned by institutional investors and hedge funds.
Ambev SA (NYSE:ABEV) traded down 0.33% during midday trading on Friday, hitting $6.07. The company had a trading volume of 7,659,647 shares. Ambev SA has a 1-year low of $3.86 and a 1-year high of $6.32. The firm has a market capitalization of $95.29 billion, a P/E ratio of 27.10 and a beta of 0.92. The company has a 50 day moving average price of $6.07 and a 200 day moving average price of $5.59.
Several brokerages have recently commented on ABEV. Morgan Stanley downgraded Ambev SA from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $6.00 to $6.40 in a research report on Thursday, August 18th. They noted that the move was a valuation call. TheStreet upgraded Ambev SA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Finally, Zacks Investment Research downgraded Ambev SA from a “buy” rating to a “hold” rating in a research report on Monday, July 4th.
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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