Oldfield Partners LLP Increases Stake in Ambev S.A. (NYSE:ABEV)

by · The Markets Daily

Oldfield Partners LLP raised its holdings in shares of Ambev S.A. (NYSE:ABEV – Free Report) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,922,100 shares of the company’s stock after acquiring an additional 323,100 shares during the quarter. Ambev makes up 2.0% of Oldfield Partners LLP’s portfolio, making the stock its 12th largest holding. Oldfield Partners LLP’s holdings in Ambev were worth $9,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. HTLF Bank bought a new position in shares of Ambev during the third quarter worth $26,000. Lake Street Advisors Group LLC purchased a new position in Ambev during the first quarter worth $28,000. HighPoint Advisor Group LLC bought a new stake in shares of Ambev in the 4th quarter worth about $31,000. Riversedge Advisors LLC bought a new stake in Ambev during the 3rd quarter valued at about $31,000. Finally, Foster Group Inc. bought a new stake in Ambev during the 3rd quarter valued at about $33,000. Institutional investors own 8.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com began coverage on Ambev in a report on Friday. They issued a “buy” rating for the company. UBS Group cut their price target on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.75.

Get Our Latest Research Report on Ambev

Ambev Trading Up 0.4 %

Shares of Ambev stock opened at $2.29 on Tuesday. 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’s 50-day moving average price is $2.35 and its 200 day moving average price is $2.26. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The firm has a market capitalization of $36.08 billion, a PE ratio of 12.03, a P/E/G ratio of 5.34 and a beta of 1.05.

Ambev (NYSE:ABEV – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $3.85 billion during 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 quarter in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts predict that Ambev S.A. will post 0.17 EPS for the current fiscal year.

Ambev Company 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.

Further Reading

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. (NYSE:ABEV – Free Report).