StockNews.com Initiates Coverage on Ambev (NYSE:ABEV)

Research analysts at StockNews.com began coverage on shares of Ambev (NYSE:ABEV) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

Ambev Stock Down 7.8 %

Ambev stock opened at $1.90 on Tuesday. The company has a fifty day simple moving average of $2.21 and a 200 day simple moving average of $2.23. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev has a 1-year low of $1.88 and a 1-year high of $2.85. The company has a market cap of $29.93 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 6.67 and a beta of 1.05.

Hedge Funds Weigh In On Ambev

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates lifted its holdings in Ambev by 154.0% during the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ambev by 26.5% during the second quarter. Bank of New York Mellon Corp now owns 947,932 shares of the company’s stock worth $1,943,000 after buying an additional 198,462 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Ambev by 323.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company’s stock valued at $20,322,000 after acquiring an additional 7,570,842 shares during the period. Atomi Financial Group Inc. increased its position in Ambev by 49.3% during the second quarter. Atomi Financial Group Inc. now owns 46,272 shares of the company’s stock worth $95,000 after acquiring an additional 15,271 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Ambev by 25.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 555,617 shares of the company’s stock worth $1,139,000 after purchasing an additional 112,190 shares in the last quarter. Institutional investors and hedge funds own 8.13% of the company’s stock.

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.