Ambev (NYSE:ABEV) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Ambev (NYSE:ABEV) in a research note issued to investors on Saturday. The firm set a “buy” rating on the stock.

Ambev Trading Down 3.0 %

Shares of ABEV stock opened at $1.79 on Friday. Ambev has a twelve month low of $1.76 and a twelve month high of $2.82. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $2.09 and its two-hundred day moving average is $2.20. The company has a market capitalization of $28.12 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05.

Institutional Investors Weigh In On Ambev

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in Ambev by 27.7% during the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock worth $69,973,000 after buying an additional 7,412,395 shares during the period. Marshall Wace LLP lifted its holdings in shares of Ambev by 324.8% during the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock worth $17,064,000 after acquiring an additional 6,364,592 shares during the period. Kiltearn Partners LLP lifted its holdings in shares of Ambev by 43.3% during the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company’s stock worth $29,881,000 after acquiring an additional 4,407,800 shares during the period. Sagil Capital LLP acquired a new stake in shares of Ambev in the second quarter worth approximately $8,762,000. Finally, Private Management Group Inc. grew its holdings in Ambev by 43.8% in the third quarter. Private Management Group Inc. now owns 13,428,352 shares of the company’s stock valued at $32,765,000 after purchasing an additional 4,087,442 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Company Profile

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.