Choreo LLC Takes $515,000 Position in Ambev S.A. (NYSE:ABEV)

Choreo LLC purchased a new stake in shares of Ambev S.A. (NYSE:ABEV) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 252,506 shares of the company’s stock, valued at approximately $515,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. IPG Investment Advisors LLC purchased a new stake in Ambev in the 4th quarter worth approximately $30,000. Radnor Capital Management LLC purchased a new stake in Ambev in the 1st quarter worth approximately $25,000. HighPoint Advisor Group LLC purchased a new stake in Ambev in the 4th quarter worth approximately $31,000. Lake Street Advisors Group LLC purchased a new stake in Ambev in the 1st quarter worth approximately $28,000. Finally, Abacus Wealth Partners LLC purchased a new stake in Ambev in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. UBS Group cut 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.75.

Ambev Stock Performance

NYSE ABEV opened at $2.31 on Monday. The stock has a market capitalization of $36.39 billion, a PE ratio of 12.16, a P/E/G ratio of 5.27 and a beta of 1.05. The business has a 50 day simple moving average of $2.23 and a two-hundred day simple moving average of $2.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.11 and a quick ratio of 0.78. Ambev S.A. has a 1-year low of $2.01 and a 1-year high of $3.00.

Ambev (NYSE:ABEV) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.56 billion. Ambev had a return on equity of 16.94% and a net margin of 17.93%. During the same quarter last year, the business posted $0.03 EPS. On average, research analysts predict that Ambev S.A. will post 0.17 EPS for the current fiscal year.

Ambev 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.