Ambev S.A. (NYSE:ABEV) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Ambev S.A. (NYSE:ABEV) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,227 shares of the company’s stock after selling 37,882 shares during the period. Truist Financial Corp’s holdings in Ambev were worth $611,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its position in Ambev by 5.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 8,545,370 shares of the company’s stock worth $21,270,000 after buying an additional 423,792 shares during the period. Sei Investments Co. increased its position in Ambev by 14.0% in the first quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock worth $22,551,000 after buying an additional 1,114,392 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Ambev by 8.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock worth $176,000 after buying an additional 5,767 shares during the period. Kiltearn Partners LLP increased its position in Ambev by 73.3% in the first quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock worth $24,607,000 after buying an additional 4,300,000 shares during the period. Finally, Perpetual Ltd increased its position in Ambev by 10.1% in the first quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after buying an additional 5,943,974 shares during the period. 8.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com lowered Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. UBS Group lowered their price target on 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.75.

Ambev Price Performance

NYSE:ABEV opened at $2.28 on Wednesday. The business’s 50-day moving average price is $2.35 and its 200 day moving average price is $2.27. The firm has a market cap of $35.84 billion, a P/E ratio of 11.97, a PEG ratio of 5.34 and a beta of 1.05. 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 earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The firm 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 earned $0.03 earnings per share. As a group, sell-side analysts predict that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Ambev Company 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.