Ambev S.A. (NYSE:ABEV) Position Increased by Endowment Wealth Management Inc.

Endowment Wealth Management Inc. lifted its holdings in Ambev S.A. (NYSE:ABEV) by 21.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,525 shares of the company’s stock after buying an additional 5,592 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Ambev were worth $77,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its position in Ambev by 8.9% during the 1st 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 period. SG Americas Securities LLC grew its position in shares of Ambev by 12.5% during the first quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock worth $116,000 after acquiring an additional 5,217 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of Ambev by 27.0% in the 1st quarter. Banco Santander S.A. now owns 743,025 shares of the company’s stock worth $1,843,000 after acquiring an additional 158,123 shares during the period. Lake Street Advisors Group LLC bought a new stake in Ambev in the 1st quarter valued at about $28,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in 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 purchasing an additional 423,792 shares during the period. 8.13% of the stock is owned by institutional investors and hedge funds.

Ambev Price Performance

ABEV opened at $2.22 on Thursday. 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 $34.97 billion, a PE ratio of 12.33, a P/E/G ratio of 6.91 and a beta of 1.06. The stock’s fifty day moving average is $2.31 and its 200-day moving average is $2.25. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group reduced their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com began coverage on Ambev in a report on Friday, October 18th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.