Portland Global Advisors LLC Cuts Position in Ambev SA (ABEV)
Portland Global Advisors LLC reduced its stake in Ambev SA (NYSE:ABEV) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,380 shares of the company’s stock after selling 3,250 shares during the period. Portland Global Advisors LLC’s holdings in Ambev SA were worth $993,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Ambev SA by 14.5% in the third quarter. BlackRock Fund Advisors now owns 11,722,970 shares of the company’s stock valued at $71,393,000 after buying an additional 1,483,858 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Ambev SA by 16.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 4,137,387 shares of the company’s stock valued at $25,197,000 after buying an additional 573,865 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Ambev SA by 2.4% in the third quarter. BlackRock Group LTD now owns 23,521,009 shares of the company’s stock valued at $143,243,000 after buying an additional 556,789 shares in the last quarter. Marietta Investment Partners LLC raised its stake in shares of Ambev SA by 7.3% in the third quarter. Marietta Investment Partners LLC now owns 812,753 shares of the company’s stock valued at $4,950,000 after buying an additional 55,437 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its stake in shares of Ambev SA by 45.6% in the third quarter. ETRADE Capital Management LLC now owns 201,261 shares of the company’s stock valued at $1,226,000 after buying an additional 63,029 shares in the last quarter. 7.33% of the stock is currently owned by institutional investors and hedge funds.
Ambev SA (NYSE:ABEV) traded up 0.431% during mid-day trading on Tuesday, hitting $5.825. 9,942,311 shares of the stock traded hands. The stock has a market cap of $91.45 billion, a price-to-earnings ratio of 23.207 and a beta of 0.72. Ambev SA has a 1-year low of $4.70 and a 1-year high of $6.34. The company’s 50 day moving average price is $5.60 and its 200-day moving average price is $5.47.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Ambev SA from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. Citigroup Inc lowered shares of Ambev SA from a “buy” rating to a “neutral” rating in a research report on Friday, March 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.21.
About Ambev SA
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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