Ambev S.A. (ABEV) Shares Bought by FIL Ltd
FIL Ltd grew its position in shares of Ambev S.A. (NYSE:ABEV) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,473,468 shares of the company’s stock after acquiring an additional 605,583 shares during the quarter. FIL Ltd owned about 0.07% of Ambev worth $57,499,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Vontobel Asset Management Inc. increased its stake in Ambev by 4.6% during the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock worth $942,525,000 after acquiring an additional 7,409,229 shares during the last quarter. Lazard Asset Management LLC increased its stake in Ambev by 5.1% during the first quarter. Lazard Asset Management LLC now owns 92,524,491 shares of the company’s stock worth $532,940,000 after acquiring an additional 4,527,340 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ambev by 17.3% during the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock worth $472,786,000 after acquiring an additional 12,723,137 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Ambev by 1.8% during the first quarter. OppenheimerFunds Inc. now owns 63,866,440 shares of the company’s stock worth $367,871,000 after acquiring an additional 1,148,134 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Ambev by 0.5% during the second quarter. Vanguard Group Inc. now owns 40,388,366 shares of the company’s stock worth $221,732,000 after acquiring an additional 192,012 shares during the last quarter. Institutional investors own 7.30% of the company’s stock.
A number of research firms have recently issued reports on ABEV. Zacks Investment Research lowered Ambev from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Barclays PLC reiterated a “hold” rating on shares of Ambev in a research note on Sunday, July 30th. Finally, Credit Suisse Group upgraded Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $6.10.
Shares of Ambev S.A. (ABEV) opened at 6.85 on Friday. The firm has a market cap of $107.59 billion, a price-to-earnings ratio of 28.66 and a beta of 0.66. The stock has a 50 day moving average price of $6.31 and a 200-day moving average price of $5.85. Ambev S.A. has a 1-year low of $4.70 and a 1-year high of $6.86.
Ambev (NYSE:ABEV) last posted its 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. Ambev had a return on equity of 23.24% and a net margin of 27.14%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.33 billion. On average, equities research analysts expect that Ambev S.A. will post $0.23 earnings per share for the current fiscal 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.
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