Profund Advisors LLC cut its holdings in shares of Ambev S.A. (NYSE:ABEV) by 9.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 704,665 shares of the company’s stock after selling 77,367 shares during the quarter. Profund Advisors LLC’s holdings in Ambev were worth $3,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABEV. Great West Life Assurance Co. Can purchased a new position in Ambev during the 1st quarter worth approximately $427,000. Advisors Asset Management Inc. raised its position in Ambev by 19.2% during the 1st quarter. Advisors Asset Management Inc. now owns 113,783 shares of the company’s stock worth $655,000 after buying an additional 18,343 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Ambev by 78.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the company’s stock worth $330,000 after buying an additional 25,000 shares during the last quarter. Suntrust Banks Inc. raised its position in Ambev by 51.1% during the 1st quarter. Suntrust Banks Inc. now owns 190,361 shares of the company’s stock worth $1,095,000 after buying an additional 64,350 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in Ambev during the 1st quarter worth approximately $224,000. 7.29% of the stock is owned by institutional investors.

A number of research firms have issued reports on ABEV. Barclays PLC reissued a “hold” rating on shares of Ambev in a research report on Sunday, July 30th. Zacks Investment Research raised shares of Ambev from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Credit Suisse Group raised shares of Ambev from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $6.10.

Ambev S.A. (NYSE ABEV) traded up 1.04% during trading on Friday, hitting $6.81. 27,233,867 shares of the stock traded hands. The stock has a market cap of $106.97 billion, a P/E ratio of 28.38 and a beta of 0.66. The firm’s 50-day moving average is $6.27 and its 200-day moving average is $5.83. Ambev S.A. has a 12 month low of $4.70 and a 12 month high of $6.82.

Ambev (NYSE:ABEV) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.33 billion. On average, analysts forecast that Ambev S.A. will post $0.23 EPS for the current year.

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Ambev 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.

Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

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