AMBEV S A/S (NYSE:ABEV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of AMBEV S A/S from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Barclays raised shares of AMBEV S A/S from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Friday, July 27th. JPMorgan Chase & Co. cut shares of AMBEV S A/S from a “neutral” rating to an “underweight” rating in a report on Thursday, October 25th. Bank of America cut shares of AMBEV S A/S from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $5.40 to $4.00 in a report on Thursday, October 25th. Finally, UBS Group cut shares of AMBEV S A/S from a “buy” rating to a “sell” rating in a report on Tuesday, October 2nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.13.
Shares of ABEV traded down $0.07 during mid-day trading on Wednesday, hitting $4.36. 730,069 shares of the company’s stock were exchanged, compared to its average volume of 35,682,196. AMBEV S A/S has a 52 week low of $3.86 and a 52 week high of $7.43. The stock has a market capitalization of $70.03 billion, a PE ratio of 18.96, a P/E/G ratio of 2.17 and a beta of 0.55. The company has a current ratio of 1.02, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06.
A number of large investors have recently made changes to their positions in ABEV. Renaissance Technologies LLC increased its stake in AMBEV S A/S by 1,785.4% in the second quarter. Renaissance Technologies LLC now owns 38,834,997 shares of the company’s stock valued at $179,806,000 after acquiring an additional 36,775,197 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in AMBEV S A/S by 17.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 69,120,615 shares of the company’s stock valued at $315,881,000 after acquiring an additional 10,460,543 shares during the last quarter. Vontobel Asset Management Inc. increased its stake in AMBEV S A/S by 5.3% in the second quarter. Vontobel Asset Management Inc. now owns 173,943,259 shares of the company’s stock valued at $819,935,000 after acquiring an additional 8,727,647 shares during the last quarter. Millennium Management LLC increased its stake in AMBEV S A/S by 19,565.5% in the second quarter. Millennium Management LLC now owns 6,800,513 shares of the company’s stock valued at $31,486,000 after acquiring an additional 6,765,932 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in AMBEV S A/S in the second quarter valued at approximately $24,542,000. 7.05% of the stock is currently owned by institutional investors and hedge funds.
AMBEV S A/S Company Profile
Ambev SA engages in the production, distribution, and sale of beverages. The company products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. Its operates a distribution network that comprises beverage distributors, supermarkets, bars and restaurants, as well as small groceries, bakeries, snack bars and franchises, and points of sale in Brazil.
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