Wealth Enhancement Advisory Services LLC Invests $587,000 in Ambev S.A. (NYSE:ABEV)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ambev S.A. (NYSE:ABEV - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 240,741 shares of the company's stock, valued at approximately $587,000.

A number of other hedge funds have also bought and sold shares of the business. Ballentine Partners LLC grew its position in shares of Ambev by 9.2% during the 3rd quarter. Ballentine Partners LLC now owns 67,247 shares of the company's stock valued at $164,000 after acquiring an additional 5,677 shares during the period. International Assets Investment Management LLC lifted its stake in Ambev by 144.0% in the third quarter. International Assets Investment Management LLC now owns 31,549 shares of the company's stock valued at $770,000 after purchasing an additional 18,619 shares during the last quarter. Private Advisor Group LLC bought a new position in Ambev during the third quarter valued at $34,000. GAM Holding AG purchased a new stake in Ambev in the third quarter worth $71,000. Finally, Signaturefd LLC raised its stake in shares of Ambev by 79.9% in the third quarter. Signaturefd LLC now owns 80,152 shares of the company's stock valued at $196,000 after buying an additional 35,609 shares during the period. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

Shares of NYSE:ABEV traded down $0.06 during midday trading on Friday, reaching $2.17. 31,442,305 shares of the company traded hands, compared to its average volume of 18,945,338. The firm's fifty day moving average price is $2.32 and its two-hundred day moving average price is $2.26. The firm has a market capitalization of $34.19 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 5.25 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 12 month low of $2.01 and a 12 month high of $3.00.

Analysts Set New Price Targets

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