220,005 Ambev S.A. $ABEV Shares Sold by Private Management Group Inc.

Private Management Group Inc. decreased its stake in shares of Ambev S.A. (NYSE:ABEV) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,623,972 shares of the company’s stock after selling 220,005 shares during the quarter. Private Management Group Inc. owned about 0.07% of Ambev worth $31,022,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings in shares of Ambev by 0.7% during the second quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company’s stock valued at $1,096,875,000 after buying an additional 2,338,660 shares during the last quarter. Royal Bank of Canada raised its stake in Ambev by 18.1% in the 1st quarter. Royal Bank of Canada now owns 3,700,035 shares of the company’s stock worth $10,804,000 after acquiring an additional 566,949 shares during the last quarter. Engineers Gate Manager LP raised its stake in Ambev by 712.8% in the 2nd quarter. Engineers Gate Manager LP now owns 1,837,660 shares of the company’s stock worth $5,770,000 after acquiring an additional 1,611,577 shares during the last quarter. Cook & Bynum Capital Management LLC acquired a new stake in Ambev during the 2nd quarter worth about $4,251,588. Finally, Assetmark Inc. lifted its position in Ambev by 61.5% during the 1st quarter. Assetmark Inc. now owns 872,694 shares of the company’s stock worth $2,548,000 after acquiring an additional 332,425 shares during the period. Institutional investors and hedge funds own 8.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABEV. UBS Group set a $2.85 price objective on Ambev in a research note on Tuesday, August 11th. Barclays dropped their target price on Ambev from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, October 30th. Bank of America downgraded shares of Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 price target on the stock. in a report on Wednesday, October 7th. Weiss Ratings lowered shares of Ambev from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Wall Street Zen cut shares of Ambev from a “buy” rating to a “hold” rating in a research note on Sunday. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.01.

Insiders Place Their Bets

In related news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of Ambev stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.09, for a total transaction of $187,739.13. Following the completion of the transaction, the insider directly owned 80,707 shares in the company, valued at approximately $249,384.63. This trade represents a 42.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ambev Price Performance

Shares of ABEV opened at $2.78 on Tuesday. The business’s 50-day moving average is $3.01 and its two-hundred day moving average is $3.03. The company has a market capitalization of $43.80 billion, a P/E ratio of 14.53 and a beta of 0.58. Ambev S.A. has a fifty-two week low of $2.28 and a fifty-two week high of $3.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.81 and a current ratio of 1.06.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Ambev had a return on equity of 18.13% and a net margin of 17.80%. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Research analysts predict that Ambev S.A. will post 0.21 earnings per share for the current year.

Ambev Company Profile

Ambev SA is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements.

The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean.