Sumitomo Mitsui Asset Management Company LTD trimmed its holdings in AMBEV S A/S (NYSE:ABEV) by 4.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,530,236 shares of the company’s stock after selling 159,011 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in AMBEV S A/S were worth $15,180,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group grew its stake in shares of AMBEV S A/S by 141.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 8,800 shares of the company’s stock valued at $34,000 after purchasing an additional 5,148 shares during the period. Ruggie Capital Group bought a new position in shares of AMBEV S A/S during the 4th quarter valued at approximately $37,000. Navellier & Associates Inc grew its stake in shares of AMBEV S A/S by 79.0% during the 4th quarter. Navellier & Associates Inc now owns 9,770 shares of the company’s stock valued at $38,000 after acquiring an additional 4,312 shares during the period. Enterprise Financial Services Corp bought a new position in shares of AMBEV S A/S during the 1st quarter valued at approximately $43,000. Finally, Alta Capital Management LLC bought a new position in shares of AMBEV S A/S during the 1st quarter valued at approximately $46,000. Institutional investors own 7.09% of the company’s stock.

Shares of NYSE:ABEV traded down $0.02 during mid-day trading on Thursday, reaching $4.14. 79,669 shares of the company traded hands, compared to its average volume of 29,903,393. The company has a market cap of $67.44 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. AMBEV S A/S has a 52 week low of $3.77 and a 52 week high of $5.88.

AMBEV S A/S (NYSE:ABEV) last posted its quarterly earnings results on Thursday, February 28th. The company reported $0.07 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.07. AMBEV S A/S had a return on equity of 19.60% and a net margin of 21.99%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Equities research analysts predict that AMBEV S A/S will post 0.22 earnings per share for the current fiscal year.

ABEV has been the subject of a number of recent research reports. Zacks Investment Research upgraded AMBEV S A/S from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Thursday, January 24th. TheStreet upgraded AMBEV S A/S from a “c” rating to a “b-” rating in a research note on Friday, February 1st. Santander downgraded AMBEV S A/S from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Finally, Itau BBA Securities downgraded AMBEV S A/S from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 28th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $5.63.

TRADEMARK VIOLATION NOTICE: “AMBEV S A/S (ABEV) Shares Sold by Sumitomo Mitsui Asset Management Company LTD” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2019/05/16/ambev-s-a-s-abev-shares-sold-by-sumitomo-mitsui-asset-management-company-ltd.html.

About AMBEV S A/S

Ambev SA, through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks (CSD), other non-alcoholic beverages, malt, and food products in the Americas. It operates through three segments: Latin America North, Latin America South, and Canada. The company offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Brahva Gold, Extra, Budweiser, Bud Light, Stella Artois, Corona, Modelo Especial, Beck, Leffe, Hoegaarden, Presidente, Brahma Light, President Light, Bohemia, The One, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Báltica, Ouro Fino, Pilsen, Patricia, Labatt Blue, Alexander Keith's, Kokanee, Banks, and Deputy brands.

See Also: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding ABEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMBEV S A/S (NYSE:ABEV).

Institutional Ownership by Quarter for AMBEV S A/S (NYSE:ABEV)

Receive News & Ratings for AMBEV S A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMBEV S A/S and related companies with MarketBeat.com's FREE daily email newsletter.