US Bancorp DE Raises Stock Position in Ambev S.A. (NYSE:ABEV)

US Bancorp DE increased its holdings in shares of Ambev S.A. (NYSE:ABEV) by 19.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 919,893 shares of the company’s stock after purchasing an additional 146,894 shares during the period. US Bancorp DE’s holdings in Ambev were worth $2,245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. HTLF Bank acquired a new stake in Ambev in the third quarter valued at approximately $26,000. Lake Street Advisors Group LLC purchased a new stake in Ambev during the 1st quarter worth $28,000. Riversedge Advisors LLC acquired a new position in Ambev in the 3rd quarter worth $31,000. Foster Group Inc. acquired a new position in Ambev in the 3rd quarter worth $33,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Ambev during the third quarter valued at about $34,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Stock Performance

Ambev stock opened at $2.21 on Thursday. 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 S.A. has a 12 month low of $2.01 and a 12 month high of $3.00. The company has a fifty day moving average price of $2.32 and a two-hundred day moving average price of $2.26. The company has a market cap of $34.82 billion, a PE ratio of 12.28, a P/E/G ratio of 5.11 and a beta of 1.06.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABEV. StockNews.com initiated coverage on Ambev in a research report on Friday, October 18th. They issued a “buy” rating on the stock. UBS Group reduced their price objective 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.