CIBC World Markets Inc. increased its position in shares of Ambev SA (NYSE:ABEV) by 50.1% during the second quarter, Holdings Channel reports. The firm owned 47,470 shares of the company’s stock after buying an additional 15,840 shares during the period. CIBC World Markets Inc.’s holdings in Ambev SA were worth $281,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group acquired a new position in shares of Ambev SA during the first quarter valued at $123,000. Connable Office Inc. raised its position 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. Invictus RG raised its position 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. Scotia Capital Inc. raised its position in shares of Ambev SA by 60.5% in the first quarter. Scotia Capital Inc. now owns 140,250 shares of the company’s stock valued at $727,000 after buying an additional 52,850 shares during the last quarter. Finally, BB&T Securities LLC raised its position in shares of Ambev SA by 8.0% in the first quarter. BB&T Securities LLC now owns 247,472 shares of the company’s stock valued at $1,281,000 after buying an additional 18,293 shares during the last quarter. Institutional investors and hedge funds own 7.21% of the company’s stock.
Shares of Ambev SA (NYSE:ABEV) traded down 0.33% on Friday, reaching $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 price-to-earnings ratio of 27.10 and a beta of 0.92. The firm has a 50-day moving average price of $6.07 and a 200 day moving average price of $5.59.
Several research analysts recently weighed in on ABEV shares. TheStreet upgraded Ambev SA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Zacks Investment Research lowered Ambev SA from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Finally, Morgan Stanley lowered Ambev SA from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $6.00 to $6.40 in a research 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.
Want to see what other hedge funds are holding ABEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ambev SA (NYSE:ABEV).
Receive News & Ratings for Ambev SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ambev SA and related companies with MarketBeat.com's FREE daily email newsletter.