Zacks Investment Research upgraded shares of AMBEV S A/S (NYSE:ABEV) from a sell rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of AMBEV S A/S from a sell rating to a hold rating in a research report on Thursday, August 16th. Barclays upgraded shares of AMBEV S A/S from an equal weight rating to an overweight rating and set a $7.00 target price for the company in a research report on Friday, July 27th. UBS Group lowered shares of AMBEV S A/S from a buy rating to a sell rating in a research report on Tuesday, October 2nd. Bank of America lowered shares of AMBEV S A/S from a neutral rating to an underperform rating and dropped their target price for the company from $5.40 to $4.00 in a research report on Thursday, October 25th. Finally, JPMorgan Chase & Co. lowered shares of AMBEV S A/S from a neutral rating to an underweight rating in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. AMBEV S A/S presently has a consensus rating of Hold and a consensus price target of $6.13.

Shares of ABEV stock traded up $0.08 during trading hours on Wednesday, reaching $4.24. The stock had a trading volume of 37,145,983 shares, compared to its average volume of 34,833,944. The company has a current ratio of 1.02, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06. AMBEV S A/S has a 12 month low of $3.86 and a 12 month high of $7.43. The firm has a market capitalization of $68.61 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.13 and a beta of 0.55.

Institutional investors have recently made changes to their positions in the business. Vontobel Asset Management Inc. lifted its position in AMBEV S A/S by 5.3% during the second quarter. Vontobel Asset Management Inc. now owns 173,943,259 shares of the company’s stock valued at $819,935,000 after purchasing an additional 8,727,647 shares during the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of AMBEV S A/S by 19.4% in the 2nd quarter. Morningstar Investment Services LLC now owns 137,921 shares of the company’s stock worth $639,000 after acquiring an additional 22,443 shares during the last quarter. HRT Financial LLC bought a new stake in shares of AMBEV S A/S in the 2nd quarter worth approximately $526,000. Brown Advisory Inc. lifted its holdings in shares of AMBEV S A/S by 20,580.3% in the 2nd quarter. Brown Advisory Inc. now owns 2,594,345 shares of the company’s stock worth $12,012,000 after acquiring an additional 2,581,800 shares during the last quarter. Finally, Kiwi Wealth Investments Limited Partnership lifted its holdings in shares of AMBEV S A/S by 22.0% in the 2nd quarter. Kiwi Wealth Investments Limited Partnership now owns 593,629 shares of the company’s stock worth $2,749,000 after acquiring an additional 107,158 shares during the last quarter. Institutional investors and hedge funds own 7.05% of the company’s stock.

About AMBEV S A/S

Ambev SA engages in the production, distribution, and sale of beverages. The company products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. Its operates a distribution network that comprises beverage distributors, supermarkets, bars and restaurants, as well as small groceries, bakeries, snack bars and franchises, and points of sale in Brazil.

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