Kiltearn Partners LLP Has $29.72 Million Position in Ambev S.A. (NYSE:ABEV)

Kiltearn Partners LLP cut its position in Ambev S.A. (NYSE:ABEV - Free Report) by 16.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,180,500 shares of the company's stock after selling 2,395,400 shares during the quarter. Ambev comprises about 4.0% of Kiltearn Partners LLP's portfolio, making the stock its 9th biggest holding. Kiltearn Partners LLP owned approximately 0.08% of Ambev worth $29,720,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. HTLF Bank acquired a new stake in Ambev during the third quarter worth approximately $26,000. Wealthstream Advisors Inc. acquired a new stake in shares of Ambev during the 3rd quarter worth $29,000. Riversedge Advisors LLC bought a new position in shares of Ambev in the third quarter worth $31,000. Foster Group Inc. acquired a new position in Ambev in the third quarter valued at about $33,000. Finally, BSW Wealth Partners bought a new stake in Ambev during the third quarter worth about $33,000. Institutional investors own 8.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABEV shares. StockNews.com started coverage on Ambev in a report on Friday, October 18th. They issued a "buy" rating on the stock. UBS Group decreased their target price on Ambev from $3.20 to $2.90 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Ambev has an average rating of "Moderate Buy" and an average price target of $2.70.

Ambev Stock Down 2.3 %

ABEV stock traded down $0.05 during midday trading on Wednesday, reaching $2.14. 27,338,742 shares of the company's stock traded hands, compared to its average volume of 18,948,732. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm's fifty day moving average price is $2.29 and its 200-day moving average price is $2.24. Ambev S.A. has a 52 week low of $2.01 and a 52 week high of $3.00. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 6.75 and a beta of 1.06.

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.