Pzena Investment Management LLC Lowers Position in Ambev S.A. (NYSE:ABEV)

Pzena Investment Management LLC trimmed its stake in shares of Ambev S.A. (NYSE:ABEV) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,351,089 shares of the company’s stock after selling 34,223 shares during the period. Pzena Investment Management LLC’s holdings in Ambev were worth $44,777,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC boosted its stake in Ambev by 37.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 17,685 shares of the company’s stock worth $43,000 after buying an additional 4,861 shares during the period. National Bank of Canada FI increased its stake in Ambev by 25.0% in the second quarter. National Bank of Canada FI now owns 24,489 shares of the company’s stock worth $50,000 after purchasing an additional 4,900 shares during the period. UMB Bank n.a. lifted its holdings in Ambev by 37.4% during the third quarter. UMB Bank n.a. now owns 18,324 shares of the company’s stock worth $45,000 after buying an additional 4,984 shares during the period. SG Americas Securities LLC increased its holdings in shares of Ambev by 12.5% in the 1st quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock valued at $116,000 after acquiring an additional 5,217 shares during the period. Finally, Endowment Wealth Management Inc. raised its position in shares of Ambev by 26.1% in the 2nd quarter. Endowment Wealth Management Inc. now owns 25,933 shares of the company’s stock worth $53,000 after acquiring an additional 5,368 shares in the last quarter. 8.13% of the stock is owned by institutional investors.

Ambev Price Performance

NYSE:ABEV remained flat at $2.18 during midday trading on Wednesday. 571,610 shares of the company traded hands, compared to its average volume of 18,964,994. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The company has a market capitalization of $34.34 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 6.88 and a beta of 1.06. The company’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $2.25.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. UBS Group cut their target price on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com assumed coverage on Ambev in a report on Friday, October 18th. They set a “buy” rating for the company. Four research 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 stock currently has a consensus rating of “Hold” and a consensus target price 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.