AQR Capital Management LLC Sells 962,539 Shares of Ambev S.A. (NYSE:ABEV)

AQR Capital Management LLC lessened its holdings in Ambev S.A. (NYSE:ABEV - Free Report) by 37.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,581,723 shares of the company's stock after selling 962,539 shares during the period. AQR Capital Management LLC's holdings in Ambev were worth $3,243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Radnor Capital Management LLC purchased a new stake in Ambev in the first quarter worth about $25,000. Lake Street Advisors Group LLC bought a new stake in Ambev during the 1st quarter worth approximately $28,000. HighPoint Advisor Group LLC purchased a new position in Ambev during the fourth quarter valued at approximately $31,000. Abacus Wealth Partners LLC bought a new position in shares of Ambev in the first quarter worth approximately $38,000. Finally, Transcend Capital Advisors LLC purchased a new stake in shares of Ambev in the second quarter worth $46,000. Hedge funds and other institutional investors own 8.13% of the company's stock.

Ambev Price Performance

NYSE ABEV traded down $0.04 on Tuesday, reaching $2.37. The company had a trading volume of 25,476,933 shares, compared to its average volume of 18,891,836. The stock has a market capitalization of $37.34 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 5.23 and a beta of 1.05. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $3.00. The company has a quick ratio of 0.78, a current ratio of 1.11 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average price is $2.32 and its 200 day moving average price is $2.27.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ABEV. UBS Group lowered their target price on shares of Ambev from $3.20 to $2.90 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. StockNews.com lowered Ambev from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. Four research 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 a consensus rating of "Hold" and a consensus target price of $2.75.

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.