Sumitomo Mitsui Trust Group Inc. Acquires 21,300 Shares of Ambev S.A. (NYSE:ABEV)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Ambev S.A. (NYSE:ABEV) by 62.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,400 shares of the company’s stock after purchasing an additional 21,300 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ambev were worth $135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Seafarer Capital Partners LLC increased its stake in Ambev by 6.3% during the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after purchasing an additional 1,770,000 shares in the last quarter. Meritage Portfolio Management bought a new stake in Ambev during the 3rd quarter valued at $4,645,000. Mesirow Financial Investment Management Inc. purchased a new position in Ambev during the 3rd quarter worth $35,000. Atria Investments Inc boosted its holdings in Ambev by 84.3% during the 3rd quarter. Atria Investments Inc now owns 214,565 shares of the company’s stock worth $524,000 after acquiring an additional 98,162 shares during the last quarter. Finally, Essex Savings Bank purchased a new position in Ambev during the 3rd quarter worth $47,000. Institutional investors own 8.13% of the company’s stock.

Ambev Trading Down 0.7 %

Shares of Ambev stock opened at $2.17 on Thursday. Ambev S.A. has a 52-week low of $2.01 and a 52-week high of $3.00. The stock’s 50-day simple moving average is $2.30 and its 200 day simple moving average is $2.25. The stock has a market capitalization of $34.11 billion, a P/E ratio of 12.03, a P/E/G ratio of 6.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABEV. StockNews.com began coverage on shares of Ambev in a report on Friday, October 18th. They set a “buy” rating on the stock. UBS Group cut their price objective on shares of Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.