Euro Pacific Asset Management LLC Decreases Stake in Ambev S.A. (NYSE:ABEV)

Euro Pacific Asset Management LLC decreased its stake in shares of Ambev S.A. (NYSE:ABEV) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,281,846 shares of the company’s stock after selling 66,857 shares during the quarter. Ambev accounts for about 1.5% of Euro Pacific Asset Management LLC’s holdings, making the stock its 28th biggest holding. Euro Pacific Asset Management LLC’s holdings in Ambev were worth $8,133,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Ambev by 5.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,545,370 shares of the company’s stock worth $21,270,000 after purchasing an additional 423,792 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Ambev by 8.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock worth $176,000 after buying an additional 5,767 shares during the period. Kiltearn Partners LLP lifted its stake 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 buying an additional 4,300,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ambev by 311.9% in the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after buying an additional 581,880 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Ambev by 154.0% during the second quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock valued at $3,701,000 after acquiring an additional 1,094,629 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABEV shares. UBS Group dropped their price target on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com began coverage on shares of Ambev in a research note on Friday, October 18th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ambev currently has a consensus rating of “Hold” and an average target price of $2.75.

Ambev Price Performance

Shares of NYSE:ABEV opened at $2.21 on Friday. The company has a market capitalization of $34.82 billion, a PE ratio of 12.28, a P/E/G ratio of 6.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The company’s fifty day moving average is $2.31 and its 200-day moving average is $2.25. Ambev S.A. has a 52 week low of $2.01 and a 52 week high of $3.00.

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.