Kiltearn Partners LLP Buys 4,300,000 Shares of Ambev S.A. (NYSE:ABEV)

Kiltearn Partners LLP grew its stake in shares of Ambev S.A. (NYSE:ABEV) by 73.3% during the first quarter, HoldingsChannel reports. The firm owned 10,168,100 shares of the company’s stock after purchasing an additional 4,300,000 shares during the quarter. Ambev accounts for approximately 2.3% of Kiltearn Partners LLP’s holdings, making the stock its 20th biggest position. Kiltearn Partners LLP’s holdings in Ambev were worth $24,607,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. IPG Investment Advisors LLC bought a new stake in Ambev during the fourth quarter worth about $30,000. Radnor Capital Management LLC bought a new stake in Ambev during the first quarter worth about $25,000. HighPoint Advisor Group LLC bought a new stake in Ambev during the fourth quarter worth about $31,000. Lake Street Advisors Group LLC bought a new stake in Ambev during the first quarter worth about $28,000. Finally, SVB Wealth LLC bought a new stake in Ambev during the fourth quarter worth about $34,000. Institutional investors own 8.13% of the company’s stock.

Ambev Stock Performance

Shares of ABEV traded up $0.01 during mid-day trading on Friday, hitting $2.11. 11,078,691 shares of the company traded hands, compared to its average volume of 17,449,346. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.99. The stock has a 50-day moving average price of $2.14 and a two-hundred day moving average price of $2.38. Ambev S.A. has a 1 year low of $2.01 and a 1 year high of $3.16. The stock has a market cap of $33.24 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 3.12 and a beta of 1.06.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Ambev had a net margin of 18.25% and a return on equity of 17.53%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4 billion. Equities analysts anticipate that Ambev S.A. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Barclays dropped their target price on shares of Ambev from $3.00 to $2.50 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.68.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.