Wells Fargo & Company Cuts Anheuser-Busch InBev SA/NV (NYSE:BUD) Price Target to $88.00

Anheuser-Busch InBev SA/NV (NYSE:BUD) had its price target trimmed by Wells Fargo & Company from $97.00 to $88.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the consumer goods maker’s stock.

BUD has been the subject of several other reports. Weiss Ratings cut Anheuser-Busch InBev SA/NV from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research note on Thursday, September 24th. Morgan Stanley cut their price target on shares of Anheuser-Busch InBev SA/NV from $86.50 to $84.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. UBS Group reiterated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research note on Thursday, September 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a report on Thursday, September 24th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Anheuser-Busch InBev SA/NV Stock Down 1.4%

Shares of NYSE BUD opened at $74.59 on Monday. Anheuser-Busch InBev SA/NV has a 1 year low of $58.82 and a 1 year high of $86.60. The firm has a market cap of $150.61 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.09 and a beta of 0.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.50 and a current ratio of 0.66. The stock’s 50-day simple moving average is $79.10 and its 200-day simple moving average is $78.61.

Anheuser-Busch InBev SA/NV (NYSE:BUD) last issued its quarterly earnings results on Wednesday, July 29th. The consumer goods maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.12. Anheuser-Busch InBev SA/NV had a return on equity of 16.42% and a net margin of 14.90%.The firm had revenue of $16.66 billion during the quarter, compared to the consensus estimate of $16.23 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. Anheuser-Busch InBev SA/NV’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that Anheuser-Busch InBev SA/NV will post 4.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anheuser-Busch InBev SA/NV

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Anheuser-Busch InBev SA/NV by 10,464.1% in the second quarter. Wellington Management Group LLP now owns 3,190,248 shares of the consumer goods maker’s stock worth $262,876,000 after purchasing an additional 3,160,049 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Anheuser-Busch InBev SA/NV by 64.7% during the first quarter. Renaissance Technologies LLC now owns 810,874 shares of the consumer goods maker’s stock worth $56,250,000 after purchasing an additional 318,600 shares during the period. NewEdge Advisors LLC lifted its position in shares of Anheuser-Busch InBev SA/NV by 7,474.5% in the 2nd quarter. NewEdge Advisors LLC now owns 522,643 shares of the consumer goods maker’s stock worth $43,066,000 after buying an additional 515,743 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Anheuser-Busch InBev SA/NV by 5.1% in the 1st quarter. First Trust Advisors LP now owns 601,440 shares of the consumer goods maker’s stock worth $41,722,000 after buying an additional 29,124 shares during the last quarter. Finally, Cook & Bynum Capital Management LLC acquired a new position in shares of Anheuser-Busch InBev SA/NV in the 2nd quarter valued at about $33,282,514. 5.53% of the stock is owned by institutional investors and hedge funds.

About Anheuser-Busch InBev SA/NV

Anheuser-Busch InBev SA/NV is a global brewer headquartered in Leuven, Belgium. The company produces, markets and distributes beer and other alcoholic beverages through a portfolio of international, regional and local brands. Its best-known brands include Budweiser, Corona, Stella Artois, Michelob Ultra, Beck’s, Hoegaarden and Brahma, along with numerous country-specific offerings.

The company serves consumers across the Americas, Europe, Africa and Asia-Pacific through a broad network of breweries, distribution operations and commercial partnerships.