Ambev (NYSE:ABEV) Price Target Lowered to $2.00 at Barclays

Ambev (NYSE:ABEV) had its price target dropped by investment analysts at Barclays from $2.50 to $2.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 12.04% from the company’s current price.

A number of other analysts have also recently commented on ABEV. StockNews.com initiated coverage on shares of Ambev in a research note on Sunday. They set a “buy” rating for the company. Bank of America cut shares of Ambev from a “buy” rating to a “neutral” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.45.

Ambev Stock Down 1.4 %

ABEV stock opened at $1.79 on Tuesday. The stock has a market capitalization of $28.12 billion, a P/E ratio of 9.92, a P/E/G ratio of 5.23 and a beta of 1.05. The firm has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $2.19. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Ambev has a 52 week low of $1.76 and a 52 week high of $2.72.

Hedge Funds Weigh In On Ambev

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its holdings in Ambev by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock valued at $104,688,000 after purchasing an additional 226,238 shares during the last quarter. Seafarer Capital Partners LLC boosted its holdings in Ambev by 6.3% in the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after purchasing an additional 1,770,000 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in Ambev by 23.9% in the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock valued at $32,024,000 after purchasing an additional 2,982,621 shares during the last quarter. Kiltearn Partners LLP boosted its holdings in Ambev by 43.3% in the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock valued at $29,881,000 after purchasing an additional 4,407,800 shares during the last quarter. Finally, Private Management Group Inc. boosted its holdings in Ambev by 43.8% in the 3rd quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after purchasing an additional 4,087,442 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

About Ambev

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.