Ambev (NYSE:ABEV) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Ambev (NYSE:ABEV) in a research report issued to clients and investors on Sunday. The firm set a “buy” rating on the stock.

Separately, Bank of America lowered Ambev from a “buy” rating to a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.70.

Ambev Stock Down 1.4 %

ABEV stock opened at $1.79 on Friday. The stock has a market cap of $28.12 billion, a P/E ratio of 9.92, a P/E/G ratio of 5.23 and a beta of 1.05. Ambev has a 1-year low of $1.76 and a 1-year high of $2.72. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $2.19.

Hedge Funds Weigh In On Ambev

Several hedge funds have recently made changes to their positions in ABEV. American Century Companies Inc. increased its position in shares of Ambev by 6.2% in the second 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 last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Ambev by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,129,849 shares of the company’s stock valued at $10,516,000 after purchasing an additional 175,485 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Ambev by 40.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 155,975 shares of the company’s stock worth $318,000 after purchasing an additional 44,645 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Ambev in the 2nd quarter valued at about $606,000. Finally, Pacer Advisors Inc. boosted its holdings in Ambev by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 909,529 shares of the company’s stock valued at $1,865,000 after acquiring an additional 315,640 shares during the period. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

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.