Altrius Capital Management Inc Buys New Stake in Ambev S.A. (NYSE:ABEV)

Altrius Capital Management Inc acquired a new position in shares of Ambev S.A. (NYSE:ABEV) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 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 also recently made changes to their positions in ABEV. Empowered Funds LLC acquired a new stake in shares of Ambev in the third quarter valued at about $148,000. OneDigital Investment Advisors LLC grew its holdings in Ambev by 45.1% in the third quarter. OneDigital Investment Advisors LLC now owns 19,227 shares of the company’s stock valued at $47,000 after purchasing an additional 5,979 shares during the period. Endowment Wealth Management Inc. grew its holdings in Ambev by 21.6% in the third quarter. Endowment Wealth Management Inc. now owns 31,525 shares of the company’s stock valued at $77,000 after purchasing an additional 5,592 shares during the period. Wealthstream Advisors Inc. purchased a new stake in Ambev during the third quarter worth approximately $29,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Ambev by 32.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock worth $2,606,000 after purchasing an additional 258,875 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Stock Down 0.5 %

Shares of ABEV traded down $0.01 on Friday, hitting $2.20. The company’s stock had a trading volume of 890,665 shares, 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 firm’s fifty day moving average price is $2.31 and its 200-day moving average price is $2.25. Ambev S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. The firm has a market capitalization of $34.66 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 6.91 and a beta of 1.06.

Analyst Ratings Changes

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