Perpetual Ltd Cuts Position in Ambev S.A. (NYSE:ABEV)

by · The Markets Daily

Perpetual Ltd lowered its position in shares of Ambev S.A. (NYSE:ABEV – Free Report) by 95.2% in the third quarter, Holdings Channel reports. The firm owned 3,029,121 shares of the company’s stock after selling 60,605,152 shares during the period. Perpetual Ltd’s holdings in Ambev were worth $7,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABEV. Renaissance Technologies LLC raised its position in Ambev by 27.7% in the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after purchasing an additional 7,412,395 shares during the period. Seafarer Capital Partners LLC raised its holdings in shares of Ambev by 12.3% during the 2nd quarter. Seafarer Capital Partners LLC now owns 28,299,000 shares of the company’s stock valued at $58,013,000 after buying an additional 3,100,000 shares during the period. Pzena Investment Management LLC lifted its position in Ambev by 29.4% during the 2nd quarter. Pzena Investment Management LLC now owns 18,385,312 shares of the company’s stock worth $37,690,000 after acquiring an additional 4,179,978 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in Ambev by 23.9% in the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after acquiring an additional 2,982,621 shares during the period. Finally, Kiltearn Partners LLP grew its position in Ambev by 43.3% in the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after acquiring an additional 4,407,800 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. UBS Group cut their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.75.

Read Our Latest Stock Analysis on ABEV

Ambev Price Performance

ABEV stock opened at $2.36 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $2.33 and a 200-day simple moving average of $2.27. The company has a market capitalization of $37.18 billion, a P/E ratio of 12.42, a PEG ratio of 5.23 and a beta of 1.05. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00.

Ambev (NYSE:ABEV – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 16.94%. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts predict that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

About Ambev

(Free Report)

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.

Further Reading

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