Marks Group Wealth Management Inc Raises Stake in Ambev S.A. (NYSE:ABEV)

Marks Group Wealth Management Inc raised its stake in shares of Ambev S.A. (NYSE:ABEV) by 28.3% in the third quarter, Holdings Channel reports. The institutional investor owned 130,590 shares of the company’s stock after buying an additional 28,799 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Ambev were worth $319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI increased its holdings in Ambev by 25.0% during the 2nd quarter. National Bank of Canada FI now owns 24,489 shares of the company’s stock worth $50,000 after acquiring an additional 4,900 shares during the period. UMB Bank n.a. grew its position in shares of Ambev by 37.4% during the 3rd quarter. UMB Bank n.a. now owns 18,324 shares of the company’s stock valued at $45,000 after purchasing an additional 4,984 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Ambev by 12.5% in the first quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock worth $116,000 after purchasing an additional 5,217 shares during the period. Endowment Wealth Management Inc. raised its position in shares of Ambev by 26.1% in the second quarter. Endowment Wealth Management Inc. now owns 25,933 shares of the company’s stock worth $53,000 after buying an additional 5,368 shares in the last quarter. Finally, PDS Planning Inc boosted its stake in Ambev by 18.4% during the third quarter. PDS Planning Inc now owns 34,870 shares of the company’s stock valued at $85,000 after buying an additional 5,409 shares during the period. 8.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ambev Trading Down 0.5 %

Shares of ABEV stock opened at $2.21 on Thursday. The business has a 50-day moving average price of $2.32 and a two-hundred day moving average price of $2.26. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a market cap of $34.82 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 5.11 and a beta of 1.06.

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.