Ambev S.A. (NYSE:ABEV) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ambev S.A. (NYSE:ABEV) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,485 shares of the company’s stock after buying an additional 8,106 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Ambev were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ABEV. Private Management Group Inc. purchased a new position in Ambev during the second quarter worth $19,149,000. Allspring Global Investments Holdings LLC increased its position in Ambev by 323.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock worth $20,322,000 after purchasing an additional 7,570,842 shares in the last quarter. Renaissance Technologies LLC raised its stake in Ambev by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company’s stock valued at $69,973,000 after purchasing an additional 7,412,395 shares during the last quarter. Marshall Wace LLP lifted its holdings in Ambev by 324.8% in the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company’s stock valued at $17,064,000 after purchasing an additional 6,364,592 shares in the last quarter. Finally, Perpetual Ltd boosted its stake in shares of Ambev by 10.1% during the 1st quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after purchasing an additional 5,943,974 shares during the last quarter. 8.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ABEV shares. UBS Group decreased their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.75.

Ambev Price Performance

Shares of Ambev stock opened at $2.37 on Thursday. The business’s fifty day moving average price is $2.33 and its 200 day moving average price is $2.27. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $37.26 billion, a P/E ratio of 12.47, a PEG ratio of 5.23 and a beta of 1.05.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same period in the previous year, the company posted $0.03 EPS. As a group, research analysts anticipate that Ambev S.A. will post 0.17 earnings per share for the current year.

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.