Opes Advisors Inc Decreases Holdings in Ambev S.A. (ABEV)
Opes Advisors Inc trimmed its position in Ambev S.A. (NYSE:ABEV) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,583 shares of the company’s stock after selling 412 shares during the quarter. Opes Advisors Inc’s holdings in Ambev were worth $106,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedbush Securities Inc. grew its holdings in Ambev by 2.2% in the 1st quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock valued at $100,000 after buying an additional 369 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Ambev by 17.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock valued at $472,786,000 after buying an additional 12,723,137 shares in the last quarter. M&T Bank Corp grew its holdings in Ambev by 45.4% in the 1st quarter. M&T Bank Corp now owns 1,130,259 shares of the company’s stock valued at $6,509,000 after buying an additional 353,004 shares in the last quarter. Cullen Capital Management LLC grew its holdings in Ambev by 71.7% in the 1st quarter. Cullen Capital Management LLC now owns 584,830 shares of the company’s stock valued at $3,369,000 after buying an additional 244,310 shares in the last quarter. Finally, UBS Group AG grew its holdings in Ambev by 34.3% in the 1st quarter. UBS Group AG now owns 3,099,407 shares of the company’s stock valued at $17,852,000 after buying an additional 791,973 shares in the last quarter. 7.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on ABEV. Credit Suisse Group raised Ambev from a “neutral” rating to an “outperform” rating in a report on Tuesday. Zacks Investment Research lowered Ambev from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Ambev in a report on Sunday, July 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $6.10.
Shares of Ambev S.A. (ABEV) remained flat at $6.68 on Wednesday. 10,093,180 shares of the company’s stock were exchanged. Ambev S.A. has a 52-week low of $4.70 and a 52-week high of $6.69. The company has a market cap of $104.92 billion, a PE ratio of 27.83 and a beta of 0.66. The firm’s 50-day moving average price is $6.19 and its 200 day moving average price is $5.80.
Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Ambev had a return on equity of 23.24% and a net margin of 27.14%. Analysts anticipate that Ambev S.A. will post $0.23 earnings per share for the current fiscal year.
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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