Ambev SA (NYSE:ABEV) was downgraded by stock analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued on Thursday.
Several other brokerages have also commented on ABEV. Morgan Stanley lowered Ambev SA from an “overweight” rating to an “equal weight” rating and raised their price objective 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. Zacks Investment Research lowered Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, July 4th.
Shares of Ambev SA (NYSE:ABEV) opened at 6.09 on Thursday. The company has a market capitalization of $95.60 billion, a P/E ratio of 26.71 and a beta of 0.92. Ambev SA has a 12-month low of $3.86 and a 12-month high of $6.32. The company has a 50-day moving average price of $6.06 and a 200 day moving average price of $5.62.
Several institutional investors have recently added to or reduced their stakes in ABEV. M&T Bank Corp increased its position in shares of Ambev SA by 33.5% in the first quarter. M&T Bank Corp now owns 284,042 shares of the company’s stock worth $1,471,000 after buying an additional 71,225 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Ambev SA by 54.6% in the first quarter. Bessemer Group Inc. now owns 1,321,300 shares of the company’s stock worth $6,844,000 after buying an additional 466,800 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Ambev SA during the first quarter worth approximately $6,414,000. Marietta Investment Partners LLC bought a new position in shares of Ambev SA during the first quarter worth approximately $1,914,000. Finally, JPMorgan Chase & Co. increased its position in shares of Ambev SA by 2.6% in the first quarter. JPMorgan Chase & Co. now owns 67,229,129 shares of the company’s stock worth $348,248,000 after buying an additional 1,726,279 shares during the last quarter. Institutional investors and hedge funds own 7.21% of the company’s stock.
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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