CANADA LIFE ASSURANCE Co Has $21.27 Million Stock Position in Ambev S.A. (NYSE:ABEV)

CANADA LIFE ASSURANCE Co lifted its stake in shares of Ambev S.A. (NYSE:ABEV) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,545,370 shares of the company’s stock after purchasing an additional 423,792 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.05% of Ambev worth $21,270,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Lake Street Advisors Group LLC acquired a new stake in Ambev in the first quarter valued at about $28,000. Banco Santander S.A. boosted its stake in Ambev by 27.0% in the first quarter. Banco Santander S.A. now owns 743,025 shares of the company’s stock valued at $1,843,000 after buying an additional 158,123 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Ambev in the first quarter valued at about $216,000. Sei Investments Co. boosted its stake in Ambev by 14.0% in the first quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock valued at $22,551,000 after buying an additional 1,114,392 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Ambev by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 1,328,697 shares of the company’s stock valued at $3,295,000 after buying an additional 10,948 shares in the last quarter. 8.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ABEV shares. Barclays reduced their price objective on Ambev from $3.00 to $2.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. StockNews.com downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.68.

Ambev Price Performance

Shares of ABEV opened at $2.10 on Friday. The company has a market capitalization of $33.08 billion, a PE ratio of 11.05, a PEG ratio of 3.10 and a beta of 1.06. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $3.16. The stock’s 50-day moving average price is $2.15 and its two-hundred day moving average price is $2.39. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last announced its earnings results on Wednesday, May 8th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4 billion. Ambev had a return on equity of 17.53% and a net margin of 18.25%. On average, analysts anticipate that Ambev S.A. will post 0.18 EPS 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, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.