Sit Investment Associates Inc. reduced its stake in shares of Ambev SA (NYSE:ABEV) by 20.1% during the second quarter, Holdings Channel reports. The institutional investor owned 29,500 shares of the company’s stock after selling 7,400 shares during the period. Sit Investment Associates Inc.’s holdings in Ambev SA were worth $174,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vontobel Asset Management Inc. boosted its position in Ambev SA by 11.9% in the second quarter. Vontobel Asset Management Inc. now owns 126,832,028 shares of the company’s stock valued at $757,975,000 after buying an additional 13,507,084 shares in the last quarter. Wellington Management Group LLP boosted its position in Ambev SA by 897.1% in the first quarter. Wellington Management Group LLP now owns 5,111,252 shares of the company’s stock valued at $26,477,000 after buying an additional 4,598,645 shares in the last quarter. Renaissance Technologies LLC boosted its position in Ambev SA by 39.9% in the first quarter. Renaissance Technologies LLC now owns 14,004,239 shares of the company’s stock valued at $72,542,000 after buying an additional 3,996,400 shares in the last quarter. Glovista Investments LLC bought a new position in Ambev SA during the first quarter valued at about $13,854,000. Finally, Bank of Montreal Can bought a new position in Ambev SA during the second quarter valued at about $12,934,000. 7.22% of the stock is currently owned by institutional investors.
Ambev SA (NYSE:ABEV) traded up 1.16% during trading on Friday, hitting $6.09. 14,556,861 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 firm has a market capitalization of $95.60 billion, a PE ratio of 26.59 and a beta of 0.82. The stock has a 50 day moving average price of $6.03 and a 200-day moving average price of $5.69.
Several analysts have issued reports on ABEV shares. TheStreet raised shares of Ambev SA from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $6.00 to $6.40 in a research note 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 target price on shares of Ambev SA in a research note on Monday. Finally, Zacks Investment Research downgraded shares of Ambev SA from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Four investment analysts have rated the stock with 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 target price 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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