Oppenheimer & Co. Inc. Acquires 10,948 Shares of Ambev S.A. (NYSE:ABEV)

Oppenheimer & Co. Inc. increased its holdings in shares of Ambev S.A. (NYSE:ABEV) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,697 shares of the company’s stock after acquiring an additional 10,948 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ambev were worth $3,295,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. IPG Investment Advisors LLC purchased a new position in Ambev in the fourth quarter worth about $30,000. Radnor Capital Management LLC purchased a new position in Ambev in the first quarter worth about $25,000. HighPoint Advisor Group LLC purchased a new position in Ambev in the fourth quarter worth about $31,000. SVB Wealth LLC purchased a new position in shares of Ambev during the fourth quarter valued at approximately $34,000. Finally, Hartford Financial Management Inc. raised its holdings in shares of Ambev by 49.9% during the fourth quarter. Hartford Financial Management Inc. now owns 12,739 shares of the company’s stock valued at $36,000 after purchasing an additional 4,238 shares during the last quarter. Institutional investors own 8.13% of the company’s stock.

Analysts Set New Price Targets

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

Ambev Stock Performance

ABEV stock traded up $0.01 during midday trading on Friday, reaching $2.15. 17,546,510 shares of the company’s stock traded hands, compared to its average volume of 19,627,718. Ambev S.A. has a 52-week low of $2.01 and a 52-week high of $3.22. The stock has a market cap of $33.87 billion, a P/E ratio of 11.32, a PEG ratio of 3.16 and a beta of 1.06. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average is $2.20 and its 200 day moving average is $2.43.

Ambev (NYSE:ABEV) last announced its earnings results on Wednesday, May 8th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Ambev had a net margin of 18.25% and a return on equity of 17.53%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4 billion. As a group, analysts anticipate that Ambev S.A. will post 0.18 EPS for the current year.

Ambev Profile

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.