Savvy Advisors Inc. Takes $53,000 Position in Ambev S.A. (NYSE:ABEV)

Savvy Advisors Inc. acquired a new stake in Ambev S.A. (NYSE:ABEV) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 21,623 shares of the company’s stock, valued at approximately $53,000.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Ambev by 62.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 55,400 shares of the company’s stock worth $135,000 after buying an additional 21,300 shares during the last quarter. Seafarer Capital Partners LLC raised its stake in shares of Ambev by 6.3% in the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after acquiring an additional 1,770,000 shares in the last quarter. Meritage Portfolio Management acquired a new stake in Ambev in the 3rd quarter worth approximately $4,645,000. Mesirow Financial Investment Management Inc. bought a new stake in Ambev during the third quarter worth approximately $35,000. Finally, Atria Investments Inc grew its holdings in Ambev by 84.3% during the third quarter. Atria Investments Inc now owns 214,565 shares of the company’s stock valued at $524,000 after purchasing an additional 98,162 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

Shares of ABEV stock opened at $2.22 on Thursday. The firm has a market capitalization of $34.97 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 6.91 and a beta of 1.06. Ambev S.A. has a 1 year low of $2.01 and a 1 year high of $3.00. The firm’s fifty day simple moving average is $2.32 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com began coverage on shares of Ambev in a research report on Friday, October 18th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ambev presently has a consensus rating of “Hold” and an average target price of $2.75.

About Ambev

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.