Meritage Portfolio Management Invests $4.65 Million in Ambev S.A. (NYSE:ABEV)

Meritage Portfolio Management bought a new stake in Ambev S.A. (NYSE:ABEV - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,903,723 shares of the company's stock, valued at approximately $4,645,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABEV. National Bank of Canada FI lifted its holdings in shares of Ambev by 25.0% in the 2nd quarter. National Bank of Canada FI now owns 24,489 shares of the company's stock valued at $50,000 after purchasing an additional 4,900 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Ambev by 37.4% in the 3rd quarter. UMB Bank n.a. now owns 18,324 shares of the company's stock valued at $45,000 after purchasing an additional 4,984 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ambev by 12.5% in the 1st quarter. SG Americas Securities LLC now owns 46,857 shares of the company's stock valued at $116,000 after purchasing an additional 5,217 shares during the last quarter. Endowment Wealth Management Inc. lifted its holdings in shares of Ambev by 26.1% in the 2nd quarter. Endowment Wealth Management Inc. now owns 25,933 shares of the company's stock valued at $53,000 after purchasing an additional 5,368 shares during the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of Ambev by 18.4% in the 3rd quarter. PDS Planning Inc now owns 34,870 shares of the company's stock valued at $85,000 after purchasing an additional 5,409 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com began coverage on Ambev in a report on Friday, October 18th. They issued a "buy" rating for the company. UBS Group dropped their price target on Ambev from $3.20 to $2.90 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $2.75.

Ambev Stock Performance

NYSE ABEV traded down $0.06 on Friday, hitting $2.17. 31,442,549 shares of the company's stock were exchanged, compared to its average volume of 18,080,930. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The firm's 50-day moving average price is $2.32 and its two-hundred day moving average price is $2.25. Ambev S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.00. The firm has a market cap of $34.19 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 6.88 and a beta of 1.06.

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.