Altrius Capital Management Inc Takes $8.63 Million Position in Ambev S.A. (NYSE:ABEV)

Altrius Capital Management Inc purchased a new stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,537,034 shares of the company's stock, valued at approximately $8,630,000. Ambev accounts for 2.2% of Altrius Capital Management Inc's holdings, making the stock its 5th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. HTLF Bank purchased a new stake in shares of Ambev during the 3rd quarter valued at $26,000. Lake Street Advisors Group LLC purchased a new position in shares of Ambev in the 1st quarter worth about $28,000. Wealthstream Advisors Inc. bought a new position in shares of Ambev during the 3rd quarter valued at about $29,000. Riversedge Advisors LLC purchased a new position in shares of Ambev during the 3rd quarter valued at about $31,000. Finally, Foster Group Inc. bought a new stake in Ambev in the 3rd quarter worth approximately $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABEV has been the topic of several research reports. StockNews.com started coverage on shares of Ambev in a research note on Friday, October 18th. They set a "buy" rating on the stock. UBS Group lowered their price target on shares of Ambev from $3.20 to $2.90 and set a "buy" rating for the company in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $2.75.

Ambev Stock Performance

Shares of Ambev stock remained flat at $2.21 during midday trading on Friday. The company had a trading volume of 6,374,747 shares, compared to its average volume of 19,017,836. The company's 50 day moving average is $2.31 and its 200 day moving average is $2.25. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00. The company has a market capitalization of $34.82 billion, a P/E ratio of 12.22, a PEG ratio of 6.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Ambev 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.