Marks Group Wealth Management Inc Grows Holdings in Ambev S.A. (NYSE:ABEV)

by · The Markets Daily

Marks Group Wealth Management Inc raised its position in Ambev S.A. (NYSE:ABEV – Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,590 shares of the company’s stock after buying an additional 28,799 shares during the period. Marks Group Wealth Management Inc’s holdings in Ambev were worth $319,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. PDS Planning Inc increased its position in shares of Ambev by 18.4% during the third quarter. PDS Planning Inc now owns 34,870 shares of the company’s stock valued at $85,000 after acquiring an additional 5,409 shares during the last quarter. QRG Capital Management Inc. grew its stake in Ambev by 77.1% in the 3rd quarter. QRG Capital Management Inc. now owns 38,034 shares of the company’s stock valued at $93,000 after purchasing an additional 16,563 shares during the period. BSW Wealth Partners bought a new position in Ambev in the 3rd quarter valued at $33,000. Private Management Group Inc. increased its position in shares of Ambev by 43.8% during the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after purchasing an additional 4,087,442 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Ambev by 7.2% during the 3rd quarter. Stephens Inc. AR now owns 166,988 shares of the company’s stock worth $407,000 after purchasing an additional 11,182 shares during the period. Institutional investors own 8.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ABEV. StockNews.com initiated coverage on shares of Ambev in a research report on Friday, October 18th. They set a “buy” rating for the company. UBS Group decreased their price target on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.75.

View Our Latest Research Report on Ambev

Ambev Trading Down 0.5 %

Shares of Ambev stock opened at $2.21 on Thursday. The stock’s 50-day simple moving average is $2.32 and its 200 day simple moving average is $2.26. Ambev S.A. has a 52-week low of $2.01 and a 52-week high of $3.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The stock has a market capitalization of $34.82 billion, a P/E ratio of 12.28, a P/E/G ratio of 5.11 and a beta of 1.06.

Ambev Profile

(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.

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