Oldfield Partners LLP Trims Stock Position in Ambev S.A. $ABEV

Oldfield Partners LLP cut its stake in Ambev S.A. (NYSE:ABEV) by 55.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,700 shares of the company’s stock after selling 468,300 shares during the quarter. Ambev comprises about 0.3% of Oldfield Partners LLP’s holdings, making the stock its 13th biggest holding. Oldfield Partners LLP’s holdings in Ambev were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ABEV. Integrated Wealth Concepts LLC purchased a new position in shares of Ambev during the first quarter valued at about $26,000. Millennium Management LLC lifted its holdings in Ambev by 62.5% in the first quarter. Millennium Management LLC now owns 2,399,472 shares of the company’s stock worth $5,591,000 after buying an additional 922,566 shares during the period. Goldman Sachs Group Inc. boosted its position in Ambev by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,000,107 shares of the company’s stock valued at $11,650,000 after acquiring an additional 582,153 shares in the last quarter. Focus Partners Wealth bought a new stake in Ambev during the 1st quarter valued at approximately $33,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Ambev during the 1st quarter worth approximately $264,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Ambev Stock Performance

Shares of ABEV opened at $2.81 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average price is $2.91 and its 200-day moving average price is $2.56. Ambev S.A. has a 52 week low of $2.10 and a 52 week high of $3.24. The stock has a market cap of $44.20 billion, a P/E ratio of 15.58, a P/E/G ratio of 2.00 and a beta of 0.64.

Ambev (NYSE:ABEV) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.28 billion. Ambev had a return on equity of 16.41% and a net margin of 17.75%. Equities research analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABEV has been the subject of a number of research analyst reports. Weiss Ratings upgraded Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 5th. Barclays upped their price target on Ambev from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded Ambev from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $2.88 price objective on shares of Ambev in a research report on Wednesday, November 26th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.69.

About Ambev

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.