Renaissance Technologies LLC Increases Stock Position in Ambev S.A. (NYSE:ABEV)

Renaissance Technologies LLC increased its holdings in shares of Ambev S.A. (NYSE:ABEV) by 27.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,133,000 shares of the company’s stock after purchasing an additional 7,412,395 shares during the period. Renaissance Technologies LLC’s holdings in Ambev were worth $69,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ABEV. Radnor Capital Management LLC purchased a new stake in Ambev during the 1st quarter worth $25,000. Lake Street Advisors Group LLC purchased a new stake in Ambev during the 1st quarter worth $28,000. IPG Investment Advisors LLC purchased a new stake in Ambev during the 4th quarter worth $30,000. HighPoint Advisor Group LLC purchased a new stake in Ambev during the 4th quarter worth $31,000. Finally, Abacus Wealth Partners LLC acquired a new stake in shares of Ambev in the 1st quarter valued at about $38,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. UBS Group dropped their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.75.

Ambev Price Performance

ABEV opened at $2.33 on Tuesday. The firm has a market cap of $36.71 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 5.27 and a beta of 1.05. Ambev S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. The company’s 50-day moving average price is $2.24 and its 200 day moving average price is $2.29. The company has a quick ratio of 0.78, a current ratio of 1.11 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Ambev had a net margin of 17.93% and a return on equity of 16.94%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the business earned $0.03 earnings per share. As a group, sell-side analysts expect that Ambev S.A. will post 0.17 earnings per share 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, 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.