Advisors Asset Management Inc. Has $270,000 Stock Holdings in Ambev S.A. (NYSE:ABEV)

Advisors Asset Management Inc. reduced its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 68.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,542 shares of the company's stock after selling 234,637 shares during the quarter. Advisors Asset Management Inc.'s holdings in Ambev were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ABEV. Private Management Group Inc. bought a new stake in Ambev in the second quarter worth about $19,149,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Ambev by 323.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company's stock worth $20,322,000 after purchasing an additional 7,570,842 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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 in the last quarter. Marshall Wace LLP boosted its holdings in Ambev by 324.8% during the second quarter. Marshall Wace LLP now owns 8,324,037 shares of the company's stock worth $17,064,000 after buying an additional 6,364,592 shares in the last quarter. Finally, Kiltearn Partners LLP grew its position in Ambev by 43.3% in the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company's stock worth $29,881,000 after buying an additional 4,407,800 shares during the last quarter. 8.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Ambev in a research report on Friday, October 18th. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2.70.

Ambev Trading Down 1.4 %

Shares of ABEV traded down $0.03 during midday trading on Friday, hitting $2.12. The stock had a trading volume of 29,058,219 shares, compared to its average volume of 19,039,863. Ambev S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. 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 firm has a market cap of $33.40 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 6.69 and a beta of 1.06. The business has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $2.24.

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.