Ambev (NYSE:ABEV) Stock Rating Lowered by Wall Street Zen

by · The Markets Daily

Ambev (NYSE:ABEV – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

A number of other brokerages have also recently weighed in on ABEV. Weiss Ratings cut Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Scotiabank downgraded Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. Barclays lowered their price objective on Ambev from $3.50 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, October 30th. UBS Group set a $2.85 price objective on Ambev in a research note on Tuesday, August 11th. Finally, Bank of America downgraded Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 price objective on the stock. in a research note on Wednesday, October 7th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $3.01.

Read Our Latest Report on ABEV

Ambev Stock Down 0.4%

Ambev stock opened at $2.78 on Friday. The company has a market capitalization of $43.80 billion, a P/E ratio of 14.53 and a beta of 0.58. The firm’s fifty day simple moving average is $3.01 and its 200-day simple moving average is $3.03. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. Ambev has a 1-year low of $2.28 and a 1-year high of $3.45.

Ambev (NYSE:ABEV – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Ambev had a net margin of 17.80% and a return on equity of 18.13%. Sell-side analysts forecast that Ambev will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Ambev

In related news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $3.09, for a total value of $187,739.13. Following the transaction, the insider directly owned 80,707 shares in the company, valued at approximately $249,384.63. This trade represents a 42.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Ambev by 18.1% in the 1st quarter. Royal Bank of Canada now owns 3,700,035 shares of the company’s stock valued at $10,804,000 after purchasing an additional 566,949 shares during the period. First Eagle Investment Management LLC grew its position in Ambev by 0.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company’s stock worth $1,096,875,000 after purchasing an additional 2,338,660 shares during the last quarter. Engineers Gate Manager LP grew its position in Ambev by 712.8% in the 2nd quarter. Engineers Gate Manager LP now owns 1,837,660 shares of the company’s stock worth $5,770,000 after purchasing an additional 1,611,577 shares during the last quarter. Cook & Bynum Capital Management LLC bought a new position in shares of Ambev during the 2nd quarter worth about $4,251,588. Finally, Assetmark Inc. increased its holdings in shares of Ambev by 61.5% during the 1st quarter. Assetmark Inc. now owns 872,694 shares of the company’s stock worth $2,548,000 after purchasing an additional 332,425 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Company Profile

(Get Free Report)

Ambev SA is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements.

The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean.

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