Ajo LP Cuts Position in Ambev SA (ABEV)
Ajo LP cut its position in shares of Ambev SA (NYSE:ABEV) by 1.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 270,266 shares of the company’s stock after selling 3,881 shares during the period. Ajo LP’s holdings in Ambev SA were worth $1,597,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Commonwealth Equity Services Inc boosted its stake in Ambev SA by 69.6% in the second quarter. Commonwealth Equity Services Inc now owns 23,647 shares of the company’s stock valued at $140,000 after buying an additional 9,704 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in Ambev SA during the first quarter valued at about $123,000. CIBC World Markets Inc. boosted its stake in Ambev SA by 144.7% in the first quarter. CIBC World Markets Inc. now owns 31,630 shares of the company’s stock valued at $164,000 after buying an additional 18,704 shares in the last quarter. Global X Management Co. LLC boosted its stake in Ambev SA by 13.3% in the second quarter. Global X Management Co. LLC now owns 32,804 shares of the company’s stock valued at $194,000 after buying an additional 3,846 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Ambev SA by 35.5% in the second quarter. UBS Asset Management Americas Inc. now owns 34,000 shares of the company’s stock valued at $201,000 after buying an additional 8,900 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.
Ambev SA (NYSE:ABEV) traded up 0.85% on Tuesday, reaching $5.96. 3,363,247 shares of the company traded hands. The stock has a market capitalization of $93.56 billion, a price-to-earnings ratio of 26.73 and a beta of 0.92. The firm has a 50 day moving average price of $6.04 and a 200 day moving average price of $5.57. Ambev SA has a 52-week low of $3.86 and a 52-week high of $6.32.
Several research analysts have recently weighed in on ABEV shares. TheStreet lowered shares of Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, June 6th. Zacks Investment Research lowered shares of Ambev SA from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Finally, Morgan Stanley lowered shares of Ambev SA from an “overweight” rating to an “equal weight” rating and increased 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.
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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