StockNews.com Initiates Coverage on Ambev (NYSE:ABEV)

Investment analysts at StockNews.com started coverage on shares of Ambev (NYSE:ABEV) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

Ambev Stock Performance

Shares of Ambev stock opened at $1.77 on Thursday. The stock has a market capitalization of $27.88 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 0.89. The business has a 50-day moving average of $2.14 and a 200 day moving average of $2.21. Ambev has a 12 month low of $1.76 and a 12 month high of $2.82.

Institutional Trading of Ambev

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Ambev by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 599,291 shares of the company’s stock valued at $1,402,000 after buying an additional 31,408 shares during the period. Peapack Gladstone Financial Corp raised its position in Ambev by 268.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 52,344 shares of the company’s stock worth $128,000 after buying an additional 38,146 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Ambev by 15.0% in the third quarter. Sanctuary Advisors LLC now owns 126,269 shares of the company’s stock valued at $308,000 after purchasing an additional 16,500 shares during the period. Barclays PLC lifted its holdings in shares of Ambev by 76.9% in the 3rd quarter. Barclays PLC now owns 52,625 shares of the company’s stock valued at $128,000 after buying an additional 22,880 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Ambev during the 3rd quarter worth $48,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

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.