Ambev S.A. $ABEV Shares Sold by Foresight Global Investors Inc.

Foresight Global Investors Inc. decreased its position in shares of Ambev S.A. (NYSE:ABEV) by 12.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,077,365 shares of the company’s stock after selling 450,685 shares during the quarter. Ambev makes up approximately 5.3% of Foresight Global Investors Inc.’s portfolio, making the stock its 9th largest holding. Foresight Global Investors Inc.’s holdings in Ambev were worth $7,416,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abacus Wealth Partners LLC acquired a new position in shares of Ambev in the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ambev during the first quarter worth approximately $26,000. Signaturefd LLC grew its stake in shares of Ambev by 63.2% during the 2nd quarter. Signaturefd LLC now owns 12,712 shares of the company’s stock worth $31,000 after purchasing an additional 4,924 shares during the period. R Squared Ltd purchased a new position in shares of Ambev in the first quarter valued at $33,000. Finally, Focus Partners Wealth acquired a new position in shares of Ambev during the 1st quarter worth $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ABEV. Sanford C. Bernstein reissued a “market perform” rating and issued a $2.88 price objective on shares of Ambev in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ambev in a report on Tuesday. UBS Group dropped their price objective on shares of Ambev from $2.50 to $2.20 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Hsbc Global Res raised shares of Ambev to a “hold” rating in a research note on Friday, August 1st. Finally, HSBC reaffirmed a “hold” rating on shares of Ambev in a research note on Friday, August 1st. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ambev has a consensus rating of “Reduce” and an average price target of $2.53.

Ambev Stock Performance

Ambev stock opened at $2.52 on Thursday. The stock has a fifty day moving average price of $2.32 and a 200 day moving average price of $2.34. Ambev S.A. has a 52 week low of $1.76 and a 52 week high of $2.63. The firm has a market capitalization of $39.63 billion, a P/E ratio of 15.72, a PEG ratio of 2.19 and a beta of 0.85. The company has a current ratio of 1.11, a quick ratio of 0.80 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.97 billion. Ambev had a net margin of 16.18% and a return on equity of 15.39%. Equities research analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Ambev Company 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.