Ambev (NYSE:ABEV) Rating Lowered to Neutral at Bank of America

Ambev (NYSE:ABEVGet Free Report) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Friday,Briefing.com Automated Import reports.

Separately, StockNews.com assumed coverage on Ambev in a report on Saturday, January 11th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.70.

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Ambev Stock Down 2.4 %

NYSE ABEV opened at $1.81 on Friday. The stock’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.19. Ambev has a one year low of $1.76 and a one year high of $2.73. The firm has a market cap of $28.44 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 5.23 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89.

Institutional Trading of Ambev

Several hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of 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 purchasing an additional 226,238 shares during the period. Seafarer Capital Partners LLC increased its stake in Ambev by 6.3% during the 3rd 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 in the last quarter. Brandes Investment Partners LP raised its holdings in Ambev by 23.9% during the 2nd quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock worth $32,024,000 after buying an additional 2,982,621 shares during the period. Kiltearn Partners LLP lifted its stake in Ambev by 43.3% in the second 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. Finally, Private Management Group Inc. boosted its holdings in shares of Ambev by 43.8% in the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after buying an additional 4,087,442 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Company Profile

(Get Free Report)

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.

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