Oldfield Partners LLP Purchases 323,100 Shares of Ambev S.A. (NYSE:ABEV)

Oldfield Partners LLP lifted its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,922,100 shares of the company's stock after purchasing an additional 323,100 shares during the quarter. Ambev accounts for 2.0% of Oldfield Partners LLP's holdings, making the stock its 12th biggest holding. Oldfield Partners LLP's holdings in Ambev were worth $9,570,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. HTLF Bank bought a new stake in Ambev during the third quarter worth $26,000. HighPoint Advisor Group LLC bought a new stake in shares of Ambev during the 4th quarter worth $31,000. Lake Street Advisors Group LLC acquired a new stake in Ambev in the first quarter valued at about $28,000. Riversedge Advisors LLC bought a new position in Ambev in the third quarter valued at about $31,000. Finally, Foster Group Inc. acquired a new position 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 research firms have recently weighed in on ABEV. StockNews.com started coverage on shares of Ambev in a research note on Friday. They issued a "buy" rating on the stock. UBS Group cut their target price on shares of 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.75.

Ambev Trading Down 0.9 %

NYSE ABEV traded down $0.02 during trading hours on Tuesday, reaching $2.27. The company's stock had a trading volume of 28,932,006 shares, compared to its average volume of 18,879,967. The firm has a fifty day simple moving average of $2.35 and a 200-day simple moving average of $2.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. Ambev S.A. has a 52 week low of $2.01 and a 52 week high of $3.00. The stock has a market cap of $35.76 billion, a P/E ratio of 11.95, a P/E/G ratio of 5.34 and a beta of 1.05.

Ambev (NYSE:ABEV - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 the consensus estimate of $3.56 billion. During the same quarter last year, the firm earned $0.03 earnings per share. Equities analysts forecast that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

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.