Oppenheimer & Co. Inc. Sells 35,905 Shares of Ambev S.A. (NYSE:ABEV)

Oppenheimer & Co. Inc. cut its position in shares of Ambev S.A. (NYSE:ABEV) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 799,552 shares of the company’s stock after selling 35,905 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ambev were worth $1,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. HTLF Bank acquired a new stake in Ambev in the 3rd quarter valued at $26,000. Lake Street Advisors Group LLC bought a new position in shares of Ambev in the 1st quarter valued at about $28,000. Riversedge Advisors LLC acquired a new stake in shares of Ambev in the third quarter valued at about $31,000. Foster Group Inc. bought a new stake in Ambev during the third quarter worth about $33,000. Finally, BSW Wealth Partners bought a new position in Ambev in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Ambev Price Performance

Shares of ABEV opened at $2.21 on Monday. The firm has a market cap of $34.82 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 6.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. Ambev S.A. has a 52 week low of $2.01 and a 52 week high of $3.00. The firm’s 50-day simple moving average is $2.31 and its 200 day simple moving average is $2.25.

Wall Street Analyst Weigh In

ABEV has been the subject of several recent analyst reports. UBS Group cut their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com assumed coverage on shares of Ambev in a research report on Friday, October 18th. They issued a “buy” rating for the company. 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.com, the company presently has an average rating of “Hold” and an average price target 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.