Employees Retirement System of Texas Takes $2.22 Million Position in Ambev S.A. (NYSE:ABEV)

Employees Retirement System of Texas acquired a new position in shares of Ambev S.A. (NYSE:ABEV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,082,050 shares of the company's stock, valued at approximately $2,218,000.

A number of other institutional investors have also recently bought and sold shares of ABEV. Radnor Capital Management LLC bought a new position in Ambev in the first quarter valued at approximately $25,000. Lake Street Advisors Group LLC acquired a new stake in shares of Ambev in the first quarter valued at approximately $28,000. HighPoint Advisor Group LLC bought a new position in shares of Ambev during the 4th quarter worth approximately $31,000. Abacus Wealth Partners LLC acquired a new position in shares of Ambev during the 1st quarter worth approximately $38,000. Finally, Transcend Capital Advisors LLC bought a new stake in Ambev in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 8.13% of the company's stock.

Ambev Stock Up 1.1 %

Ambev stock opened at $2.36 on Friday. The firm has a market capitalization of $37.10 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 5.23 and a beta of 1.05. The firm has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $2.28. Ambev S.A. has a 1-year low of $2.01 and a 1-year high of $3.00. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates of $0.03. Ambev had a net margin of 17.93% and a return on equity of 16.94%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business posted $0.03 EPS. On average, analysts predict that Ambev S.A. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com cut Ambev from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. UBS Group cut their price objective 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $2.75.

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.

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