Ambev S.A. (NYSE:ABEV) Stock Position Boosted by Eldred Rock Partners LLC

Eldred Rock Partners LLC raised its stake in shares of Ambev S.A. (NYSE:ABEV) by 117.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,666,393 shares of the company’s stock after buying an additional 1,438,934 shares during the period. Ambev makes up 2.2% of Eldred Rock Partners LLC’s portfolio, making the stock its 28th biggest position. Eldred Rock Partners LLC’s holdings in Ambev were worth $6,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perpetual Ltd grew its holdings in Ambev by 10.1% during the first quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after acquiring an additional 5,943,974 shares during the period. Renaissance Technologies LLC grew its stake in shares of Ambev by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock worth $69,973,000 after purchasing an additional 7,412,395 shares during the last quarter. Seafarer Capital Partners LLC raised its holdings in shares of Ambev by 12.3% in the 2nd quarter. Seafarer Capital Partners LLC now owns 28,299,000 shares of the company’s stock worth $58,013,000 after purchasing an additional 3,100,000 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Ambev by 29.4% during the second quarter. Pzena Investment Management LLC now owns 18,385,312 shares of the company’s stock valued at $37,690,000 after purchasing an additional 4,179,978 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its holdings in Ambev by 23.9% during the second quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after buying an additional 2,982,621 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. UBS Group decreased their price target on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ambev currently has an average rating of “Hold” and a consensus target price of $2.75.

Ambev Trading Down 0.4 %

NYSE ABEV traded down $0.01 on Friday, hitting $2.47. 43,086,797 shares of the stock were exchanged, compared to its average volume of 18,842,383. The company’s 50-day moving average price is $2.31 and its two-hundred day moving average price is $2.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. Ambev S.A. has a 52-week low of $2.01 and a 52-week high of $3.00. The company has a market capitalization of $38.91 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 5.23 and a beta of 1.05.

Ambev (NYSE:ABEV) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same quarter in the previous year, the company posted $0.03 earnings per share. Research analysts predict that Ambev S.A. will post 0.17 EPS for the current year.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.