Banco Santander S.A. Cuts Holdings in Ambev S.A. (NYSE:ABEV)

Banco Santander S.A. decreased its holdings in Ambev S.A. (NYSE:ABEV) by 11.7% in the third quarter, Holdings Channel reports. The firm owned 1,027,674 shares of the company’s stock after selling 135,840 shares during the quarter. Banco Santander S.A.’s holdings in Ambev were worth $2,508,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Kiltearn Partners LLP increased its holdings in Ambev by 73.3% in the 1st quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock worth $24,607,000 after buying an additional 4,300,000 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Ambev by 311.9% in the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after acquiring an additional 581,880 shares during the period. Raymond James & Associates raised its holdings in shares of Ambev by 154.0% during the second quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock valued at $3,701,000 after purchasing an additional 1,094,629 shares during the last quarter. GSG Advisors LLC boosted its holdings in Ambev by 732.4% in the second quarter. GSG Advisors LLC now owns 497,718 shares of the company’s stock worth $1,015,000 after purchasing an additional 437,922 shares during the last quarter. Finally, Seafarer Capital Partners LLC boosted its holdings in Ambev by 6.3% in the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after purchasing an additional 1,770,000 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Trading Down 0.7 %

NYSE:ABEV opened at $2.16 on Friday. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00. The business has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.25. The firm has a market capitalization of $33.95 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 6.79 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.

Wall Street Analyst Weigh In

ABEV has been the topic of several research analyst reports. StockNews.com began coverage on Ambev in a report on Friday, October 18th. They set a “buy” rating on the stock. UBS Group lowered their target price on 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.