Millennium Management LLC Grows Position in Ambev S.A. (NYSE:ABEV)

Millennium Management LLC raised its stake in shares of Ambev S.A. (NYSE:ABEV) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,445,718 shares of the company’s stock after purchasing an additional 1,132,936 shares during the period. Millennium Management LLC owned 0.05% of Ambev worth $17,314,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Neuberger Berman Group LLC increased its holdings in shares of Ambev by 4.3% during the 4th quarter. Neuberger Berman Group LLC now owns 441,094 shares of the company’s stock worth $1,235,000 after buying an additional 18,137 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of Ambev in the 4th quarter worth about $435,000. Virtu Financial LLC purchased a new position in shares of Ambev in the 4th quarter worth about $264,000. HighPoint Advisor Group LLC purchased a new stake in shares of Ambev during the 4th quarter worth about $31,000. Finally, NBC Securities Inc. increased its position in Ambev by 29.4% during the 1st quarter. NBC Securities Inc. now owns 102,236 shares of the company’s stock worth $253,000 after purchasing an additional 23,246 shares in the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Wall Street Analyst Weigh In

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

Ambev Stock Down 0.4 %

Shares of NYSE:ABEV opened at $2.47 on Friday. The company has a market capitalization of $38.91 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 5.23 and a beta of 1.05. The company has a 50 day moving average of $2.31 and a two-hundred day moving average of $2.28. Ambev S.A. has a 52-week low of $2.01 and a 52-week high of $3.00. The company has a quick ratio of 0.78, a current ratio of 1.11 and a debt-to-equity ratio of 0.02.

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 analysts’ consensus estimates of $0.03. Ambev had a net margin of 17.93% and a return on equity of 16.94%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the business earned $0.03 EPS. As a group, analysts forecast that Ambev S.A. will post 0.17 earnings per share for the current fiscal 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.