Covenant Partners LLC Lowers Stock Position in Anheuser-Busch InBev SA/NV (NYSE:BUD)

by · The Markets Daily

Covenant Partners LLC cut its position in shares of Anheuser-Busch InBev SA/NV (NYSE:BUD – Free Report) by 19.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,961 shares of the consumer goods maker’s stock after selling 1,445 shares during the quarter. Covenant Partners LLC’s holdings in Anheuser-Busch InBev SA/NV were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BUD. GPS Wealth Strategies Group LLC increased its position in shares of Anheuser-Busch InBev SA/NV by 50.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 550 shares of the consumer goods maker’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Anheuser-Busch InBev SA/NV by 225.0% in the 2nd quarter. Blue Trust Inc. now owns 546 shares of the consumer goods maker’s stock worth $33,000 after buying an additional 378 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Anheuser-Busch InBev SA/NV by 39.7% in the 2nd quarter. Addison Advisors LLC now owns 591 shares of the consumer goods maker’s stock worth $34,000 after buying an additional 168 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Anheuser-Busch InBev SA/NV during the second quarter worth about $35,000. Finally, Valley Wealth Managers Inc. bought a new stake in Anheuser-Busch InBev SA/NV in the second quarter worth about $38,000. 5.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BUD has been the subject of several research analyst reports. Morgan Stanley raised their price target on shares of Anheuser-Busch InBev SA/NV from $68.50 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Evercore ISI raised Anheuser-Busch InBev SA/NV to a “strong-buy” rating in a research report on Monday, September 30th. TD Cowen cut Anheuser-Busch InBev SA/NV from a “buy” rating to a “hold” rating and upped their price target for the company from $68.00 to $88.00 in a research report on Tuesday, October 8th. Barclays raised Anheuser-Busch InBev SA/NV to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Citigroup raised shares of Anheuser-Busch InBev SA/NV from a “neutral” rating to a “buy” rating in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $79.00.

Get Our Latest Stock Report on BUD

Anheuser-Busch InBev SA/NV Price Performance

Shares of Anheuser-Busch InBev SA/NV stock traded down $0.71 during trading on Friday, hitting $63.90. The stock had a trading volume of 761,119 shares, compared to its average volume of 1,584,070. The firm has a market cap of $114.84 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 1.77 and a beta of 1.10. Anheuser-Busch InBev SA/NV has a 12 month low of $52.74 and a 12 month high of $67.49. The business’s 50-day moving average is $63.84 and its 200 day moving average is $62.01. The company has a current ratio of 0.69, a quick ratio of 0.51 and a debt-to-equity ratio of 0.85.

Anheuser-Busch InBev SA/NV (NYSE:BUD – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The consumer goods maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.84 by $0.06. Anheuser-Busch InBev SA/NV had a return on equity of 14.77% and a net margin of 9.89%. The company had revenue of $15.33 billion during the quarter, compared to analyst estimates of $15.21 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Anheuser-Busch InBev SA/NV will post 3.39 earnings per share for the current year.

Anheuser-Busch InBev SA/NV Profile

(Free Report)

Anheuser-Busch InBev SA/NV produces, distributes, exports, markets, and sells beer and beverages. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands.

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