Rehmann Capital Advisory Group Sells 5,706 Shares of Ambev S.A. (NYSE:ABEV)

Rehmann Capital Advisory Group trimmed its position in shares of Ambev S.A. (NYSE:ABEV) by 34.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,780 shares of the company’s stock after selling 5,706 shares during the period. Rehmann Capital Advisory Group’s holdings in Ambev were worth $27,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ABEV. Privium Fund Management B.V. grew its stake in Ambev by 28.4% in the 1st quarter. Privium Fund Management B.V. now owns 459,242 shares of the company’s stock worth $1,139,000 after acquiring an additional 101,674 shares in the last quarter. 1900 Wealth Management LLC boosted its stake in shares of Ambev by 82.3% during the first quarter. 1900 Wealth Management LLC now owns 92,856 shares of the company’s stock valued at $230,000 after purchasing an additional 41,914 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Ambev during the first quarter valued at approximately $463,000. IRON Financial LLC bought a new position in shares of Ambev during the first quarter valued at approximately $33,000. Finally, Oldfield Partners LLP bought a new position in shares of Ambev during the first quarter valued at approximately $12,157,000. 8.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABEV shares. Barclays decreased their target price on shares of Ambev from $3.00 to $2.50 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.68.

Ambev Stock Up 2.4 %

NYSE:ABEV traded up $0.05 during midday trading on Wednesday, reaching $2.13. 16,939,615 shares of the stock traded hands, compared to its average volume of 14,328,855. The business has a 50-day moving average of $2.21 and a two-hundred day moving average of $2.44. The stock has a market capitalization of $33.56 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 3.04 and a beta of 1.06. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.69 and a current ratio of 0.99.

Ambev (NYSE:ABEV) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4 billion. Ambev had a net margin of 18.25% and a return on equity of 17.53%. On average, equities analysts forecast that Ambev S.A. will post 0.18 earnings per share 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, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.