Oldfield Partners LLP Trims Stock Position in Ambev S.A. (NYSE:ABEV)

Oldfield Partners LLP cut its holdings in shares of Ambev S.A. (NYSE:ABEV) by 26.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,599,000 shares of the company’s stock after selling 1,302,900 shares during the quarter. Ambev comprises approximately 1.4% of Oldfield Partners LLP’s portfolio, making the stock its 13th biggest holding. Oldfield Partners LLP’s holdings in Ambev were worth $7,378,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Ambev by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,129,849 shares of the company’s stock worth $10,516,000 after purchasing an additional 175,485 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Ambev by 7.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 809,018 shares of the company’s stock worth $1,658,000 after purchasing an additional 54,659 shares during the period. American Century Companies Inc. raised its holdings in shares of Ambev by 6.2% in the 2nd quarter. American Century Companies Inc. now owns 1,798,559 shares of the company’s stock worth $3,687,000 after purchasing an additional 104,651 shares during the period. Headlands Technologies LLC raised its holdings in shares of Ambev by 691.5% in the 2nd quarter. Headlands Technologies LLC now owns 688,255 shares of the company’s stock worth $1,411,000 after purchasing an additional 601,299 shares during the period. Finally, Longfellow Investment Management Co. LLC raised its holdings in shares of Ambev by 248.8% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 4,013,613 shares of the company’s stock worth $8,228,000 after purchasing an additional 2,862,982 shares during the period. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Ambev Price Performance

ABEV stock opened at $2.31 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.78 and a current ratio of 1.11. Ambev S.A. has a 1 year low of $2.01 and a 1 year high of $3.00. The firm has a market cap of $36.39 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 5.27 and a beta of 1.05. The stock has a 50-day simple moving average of $2.23 and a 200-day simple moving average of $2.29.

Ambev (NYSE:ABEV) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Ambev had a return on equity of 16.94% and a net margin of 17.93%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the firm earned $0.03 earnings per share. On average, equities analysts predict that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABEV has been the topic of a number of research reports. StockNews.com downgraded Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. UBS Group lowered their target price on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock 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.