Ambev (NYSE:ABEV) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Ambev (NYSE:ABEV) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

Ambev Price Performance

ABEV opened at $1.85 on Thursday. Ambev has a 12 month low of $1.82 and a 12 month high of $2.82. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $2.15 and its 200-day moving average price is $2.21. The company has a market cap of $29.14 billion, a P/E ratio of 10.28, a P/E/G ratio of 6.67 and a beta of 1.05.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position in Ambev by 9.2% during the 3rd quarter. State Street Corp now owns 10,425,374 shares of the company’s stock valued at $25,438,000 after buying an additional 878,900 shares during the period. Jane Street Group LLC boosted its holdings in shares of Ambev by 132.9% during the third quarter. Jane Street Group LLC now owns 1,976,147 shares of the company’s stock worth $4,822,000 after purchasing an additional 1,127,719 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Ambev by 18.3% during the third quarter. HighTower Advisors LLC now owns 54,013 shares of the company’s stock worth $129,000 after purchasing an additional 8,350 shares during the period. Stifel Financial Corp grew its stake in shares of Ambev by 298.1% in the third quarter. Stifel Financial Corp now owns 802,016 shares of the company’s stock worth $1,957,000 after purchasing an additional 600,545 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Ambev by 32.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock valued at $2,606,000 after purchasing an additional 258,875 shares during the period. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Company Profile

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.