Private Management Group Inc. Raises Holdings in Ambev S.A. (NYSE:ABEV)

Private Management Group Inc. increased its position in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 43.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,428,352 shares of the company's stock after buying an additional 4,087,442 shares during the period. Ambev comprises about 1.2% of Private Management Group Inc.'s portfolio, making the stock its 25th biggest position. Private Management Group Inc. owned 0.09% of Ambev worth $32,765,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. HTLF Bank acquired a new position in shares of Ambev during the 3rd quarter worth about $26,000. Lake Street Advisors Group LLC acquired a new position in Ambev in the first quarter valued at approximately $28,000. Riversedge Advisors LLC purchased a new position in Ambev in the third quarter valued at approximately $31,000. Foster Group Inc. acquired a new stake in Ambev during the third quarter worth approximately $33,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Ambev during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 8.13% of the company's stock.

Ambev Stock Performance

ABEV stock traded down $0.03 on Friday, hitting $2.15. The company's stock had a trading volume of 19,147,092 shares, compared to its average volume of 18,828,686. The stock has a market cap of $33.87 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 5.40 and a beta of 1.05. The firm has a 50 day moving average of $2.33 and a two-hundred day moving average of $2.26. 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 S.A. has a 1 year low of $2.01 and a 1 year high of $3.00.

Ambev (NYSE:ABEV - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Ambev had a net margin of 17.93% and a return on equity of 16.94%. The business had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.68 billion. Equities analysts predict that Ambev S.A. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ABEV. StockNews.com began coverage on shares of Ambev in a research report on Friday, October 18th. They issued a "buy" rating on the stock. UBS Group dropped their price objective on Ambev from $3.20 to $2.90 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $2.75.

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.