Altrius Capital Management Inc Invests $8.63 Million in Ambev S.A. (NYSE:ABEV)

Altrius Capital Management Inc bought a new stake in Ambev S.A. (NYSE:ABEV) during the third quarter, HoldingsChannel.com reports. The firm bought 3,537,034 shares of the company’s stock, valued at approximately $8,630,000. Ambev comprises about 2.2% of Altrius Capital Management Inc’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Management Group Inc. acquired a new position in shares of Ambev during the 2nd quarter valued at $19,149,000. Allspring Global Investments Holdings LLC boosted its holdings in Ambev by 323.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock worth $20,322,000 after buying an additional 7,570,842 shares during the period. Renaissance Technologies LLC boosted its holdings in Ambev by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after purchasing an additional 7,412,395 shares during the period. Marshall Wace LLP raised its position in shares of Ambev by 324.8% during the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after buying an additional 6,364,592 shares in the last quarter. Finally, Kiltearn Partners LLP raised its position in shares of Ambev by 43.3% during the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after buying an additional 4,407,800 shares in the last quarter. 8.13% of the stock is owned by institutional investors.

Ambev Trading Down 0.5 %

ABEV traded down $0.01 on Friday, reaching $2.20. 890,665 shares of the company traded hands, compared to its average volume of 18,993,133. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a market cap of $34.66 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 6.91 and a beta of 1.06. The firm has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $2.25. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group cut their price target on shares of Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com began coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ambev presently has a consensus rating of “Hold” and an average price target of $2.75.

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.