Connor Clark & Lunn Investment Management Ltd. Has $3.01 Million Position in Ambev S.A. (NYSE:ABEV)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,232,978 shares of the company’s stock after selling 116,982 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ambev were worth $3,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. HTLF Bank bought a new stake in Ambev during the 3rd quarter worth approximately $26,000. Wealthstream Advisors Inc. acquired a new position in shares of Ambev during the third quarter worth $29,000. Riversedge Advisors LLC bought a new stake in shares of Ambev in the third quarter worth $31,000. Foster Group Inc. bought a new stake in shares of Ambev in the third quarter worth $33,000. Finally, BSW Wealth Partners acquired a new stake in Ambev in the third quarter valued at $33,000. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABEV has been the topic of a number of analyst reports. UBS Group reduced their price target on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com assumed coverage on shares of Ambev in a research report on Friday, October 18th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ambev presently has an average rating of “Moderate Buy” and an average target price of $2.70.

Ambev Stock Up 1.9 %

Shares of NYSE:ABEV opened at $2.19 on Monday. The business’s 50-day moving average is $2.29 and its 200-day moving average is $2.24. Ambev S.A. has a 1 year low of $2.01 and a 1 year high of $3.00. The company has a market capitalization of $34.50 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 6.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89.

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.