Rockefeller Capital Management L.P. Boosts Position in Ambev S.A. (NYSE:ABEV)

Rockefeller Capital Management L.P. grew its stake in Ambev S.A. (NYSE:ABEV) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,776,308 shares of the company’s stock after purchasing an additional 10,480 shares during the period. Rockefeller Capital Management L.P.’s holdings in Ambev were worth $6,774,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Ambev by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 42,904,893 shares of the company’s stock worth $104,688,000 after buying an additional 226,238 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Ambev by 27.7% in the second 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. Seafarer Capital Partners LLC raised its stake in shares of Ambev by 6.3% during the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after purchasing an additional 1,770,000 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Ambev by 29.4% during the second quarter. Pzena Investment Management LLC now owns 18,385,312 shares of the company’s stock worth $37,690,000 after purchasing an additional 4,179,978 shares during the period. Finally, Brandes Investment Partners LP lifted its holdings in shares of Ambev by 23.9% during the second quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after purchasing an additional 2,982,621 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Ambev in a research note on Friday, October 18th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.70.

Ambev Stock Performance

NYSE ABEV opened at $2.31 on Wednesday. The stock has a market capitalization of $36.31 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 6.44 and a beta of 1.05. The business’s 50 day moving average is $2.27 and its two-hundred day moving average is $2.23. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02.

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.