Ambev S.A. (NYSE:ABEV) Stock Holdings Lifted by Endowment Wealth Management Inc.

Endowment Wealth Management Inc. lifted its stake in shares of Ambev S.A. (NYSE:ABEV) by 21.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,525 shares of the company’s stock after acquiring an additional 5,592 shares during the quarter. Endowment Wealth Management Inc.’s holdings in Ambev were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Ambev by 8.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock valued at $176,000 after purchasing an additional 5,767 shares during the last quarter. SG Americas Securities LLC lifted its stake in Ambev by 12.5% during the first quarter. SG Americas Securities LLC now owns 46,857 shares of the company’s stock valued at $116,000 after buying an additional 5,217 shares in the last quarter. Banco Santander S.A. boosted its holdings in shares of Ambev by 27.0% in the first quarter. Banco Santander S.A. now owns 743,025 shares of the company’s stock worth $1,843,000 after buying an additional 158,123 shares during the period. Lake Street Advisors Group LLC purchased a new position in shares of Ambev in the first quarter worth approximately $28,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of 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 acquiring an additional 423,792 shares in the last quarter. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Stock Performance

Shares of ABEV opened at $2.22 on Thursday. The company has a market capitalization of $34.97 billion, a PE ratio of 12.33, a PEG ratio of 6.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.20. The company’s 50 day moving average price is $2.31 and its 200 day moving average price is $2.25. Ambev S.A. has a 52 week low of $2.01 and a 52 week high of $3.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABEV shares. StockNews.com initiated coverage on shares of Ambev in a research report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group reduced their target price on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ambev has a consensus rating of “Hold” and a consensus price target of $2.75.

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.