Oppenheimer Asset Management Inc. Buys 258,875 Shares of Ambev S.A. (NYSE:ABEV)

Oppenheimer Asset Management Inc. increased its stake in Ambev S.A. (NYSE:ABEV) by 32.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,067,893 shares of the company’s stock after purchasing an additional 258,875 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ambev were worth $2,606,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its position in shares of Ambev by 5.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,545,370 shares of the company’s stock valued at $21,270,000 after buying an additional 423,792 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Ambev by 8.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock valued at $176,000 after purchasing an additional 5,767 shares during the last quarter. Kiltearn Partners LLP boosted its position in Ambev by 73.3% during the first quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock worth $24,607,000 after purchasing an additional 4,300,000 shares during the period. Assenagon Asset Management S.A. increased 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 purchasing an additional 581,880 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Ambev by 154.0% in 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 period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Stock Performance

Ambev stock opened at $2.21 on Friday. The firm’s 50 day simple moving average is $2.31 and its 200 day simple moving average is $2.25. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev S.A. has a 1-year low of $2.01 and a 1-year high of $3.00. The firm has a market capitalization of $34.82 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 6.91 and a beta of 1.06.

Analyst Upgrades and Downgrades

ABEV has been the subject of several analyst reports. StockNews.com assumed coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group reduced their price target on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.