Allspring Global Investments Holdings LLC Increases Holdings in Ambev S.A. (NYSE:ABEV)

Allspring Global Investments Holdings LLC raised its stake in Ambev S.A. (NYSE:ABEV) by 33.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,236,234 shares of the company’s stock after buying an additional 3,322,952 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Ambev worth $32,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. HTLF Bank purchased a new stake in shares of Ambev in the third quarter valued at about $26,000. Lake Street Advisors Group LLC acquired a new stake in shares of Ambev during the 1st quarter worth approximately $28,000. Riversedge Advisors LLC purchased a new stake in shares of Ambev during the 3rd quarter valued at approximately $31,000. Foster Group Inc. acquired a new position in Ambev in the third quarter valued at approximately $33,000. Finally, Traveka Wealth LLC grew its position in Ambev by 53.3% in the third quarter. Traveka Wealth LLC now owns 17,754 shares of the company’s stock worth $43,000 after acquiring an additional 6,171 shares during the period. 8.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group reduced their target price 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 initiated coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.75.

Ambev Trading Down 0.9 %

Shares of NYSE ABEV opened at $2.25 on Thursday. The stock has a fifty day simple moving average of $2.35 and a 200-day simple moving average of $2.26. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $35.45 billion, a PE ratio of 11.84, a PEG ratio of 5.34 and a beta of 1.05.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same period in the previous year, the company posted $0.03 EPS. On average, equities analysts forecast that Ambev S.A. will post 0.17 earnings per share for the current year.

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.