Kornitzer Capital Management Inc. KS continued to hold its position in shares of Ambev SA (NYSE:ABEV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,000 shares of the company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Ambev SA were worth $2,612,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC World Markets Inc. boosted its stake in Ambev SA by 50.1% in the second quarter. CIBC World Markets Inc. now owns 47,470 shares of the company’s stock worth $281,000 after buying an additional 15,840 shares during the last quarter. Invictus RG boosted its stake in Ambev SA by 536.6% in the first quarter. Invictus RG now owns 98,831 shares of the company’s stock worth $512,000 after buying an additional 83,307 shares during the last quarter. Scotia Capital Inc. boosted its stake in Ambev SA by 60.5% in the first quarter. Scotia Capital Inc. now owns 140,250 shares of the company’s stock worth $727,000 after buying an additional 52,850 shares during the last quarter. BB&T Securities LLC boosted its stake in Ambev SA by 8.0% in the first quarter. BB&T Securities LLC now owns 247,472 shares of the company’s stock worth $1,281,000 after buying an additional 18,293 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Ambev SA by 53.3% in the first quarter. Envestnet Asset Management Inc. now owns 248,975 shares of the company’s stock worth $1,290,000 after buying an additional 86,558 shares during the last quarter. Institutional investors own 7.20% of the company’s stock.
Shares of Ambev SA (NYSE:ABEV) traded up 1.069% during trading on Tuesday, hitting $6.145. 7,835,092 shares of the stock were exchanged. Ambev SA has a 12-month low of $3.86 and a 12-month high of $6.32. The company has a market cap of $96.47 billion, a price-to-earnings ratio of 26.834 and a beta of 0.82. The firm has a 50 day moving average of $6.04 and a 200-day moving average of $5.70.
ABEV has been the topic of a number of research analyst reports. TheStreet raised shares of Ambev SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Morgan Stanley cut shares of Ambev SA from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $6.00 to $6.40 in a report on Thursday, August 18th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reissued a “buy” rating and set a $6.80 price objective on shares of Ambev SA in a report on Monday, October 10th. Finally, Zacks Investment Research cut shares of Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.05.
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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