Riversedge Advisors LLC Makes New $31,000 Investment in Ambev S.A. (NYSE:ABEV)

Riversedge Advisors LLC bought a new stake in Ambev S.A. (NYSE:ABEV) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,675 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its stake in Ambev by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 8,545,370 shares of the company’s stock worth $21,270,000 after buying an additional 423,792 shares in the last quarter. Sei Investments Co. boosted its position in shares of Ambev by 14.0% during the 1st quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock worth $22,551,000 after acquiring an additional 1,114,392 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Ambev by 8.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock valued at $176,000 after acquiring an additional 5,767 shares during the last quarter. Kiltearn Partners LLP raised its position in Ambev by 73.3% during the first quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock valued at $24,607,000 after purchasing an additional 4,300,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Ambev by 311.9% during the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after purchasing an additional 581,880 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABEV. StockNews.com lowered Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. UBS Group reduced their price target on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.75.

Ambev Price Performance

Ambev stock traded down $0.01 during midday trading on Thursday, reaching $2.29. 10,639,281 shares of the stock were exchanged, compared to its average volume of 18,808,402. Ambev S.A. has a 52 week low of $2.01 and a 52 week high of $3.00. The company’s fifty day moving average is $2.35 and its 200-day moving average is $2.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.78 and a current ratio of 1.11. The firm has a market cap of $36.08 billion, a PE ratio of 12.00, a PEG ratio of 5.34 and a beta of 1.05.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 16.94%. During the same quarter last year, the firm earned $0.03 EPS. On average, sell-side analysts forecast that Ambev S.A. will post 0.17 EPS for the current year.

Ambev Profile

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.