Ambev S.A. (NYSE:ABEV) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in Ambev S.A. (NYSE:ABEV - Free Report) by 57.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 259,010 shares of the company's stock after selling 348,324 shares during the period. BNP Paribas Financial Markets' holdings in Ambev were worth $632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Management Group Inc. purchased a new position in shares of Ambev in the second quarter valued at approximately $19,149,000. Allspring Global Investments Holdings LLC increased its position in shares of Ambev by 323.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company's stock worth $20,322,000 after acquiring an additional 7,570,842 shares during the period. Renaissance Technologies LLC raised its stake in shares of Ambev by 27.7% in the second quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company's stock valued at $69,973,000 after acquiring an additional 7,412,395 shares in the last quarter. Marshall Wace LLP boosted its holdings in Ambev by 324.8% in the second quarter. Marshall Wace LLP now owns 8,324,037 shares of the company's stock valued at $17,064,000 after purchasing an additional 6,364,592 shares during the period. Finally, Kiltearn Partners LLP boosted its stake in shares of Ambev by 43.3% in the 2nd quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company's stock valued at $29,881,000 after buying an additional 4,407,800 shares during the period. Hedge funds and other institutional investors own 8.13% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Ambev in a research note on Friday, October 18th. They set a "buy" rating on the stock.

Ambev Stock Down 1.6 %

NYSE:ABEV traded down $0.04 during trading hours on Friday, hitting $2.15. The company's stock had a trading volume of 23,440,108 shares, compared to its average volume of 19,710,805. Ambev S.A. has a 52-week low of $2.01 and a 52-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 stock has a market capitalization of $33.79 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. The stock has a fifty day moving average of $2.25 and a 200-day moving average of $2.23.

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.