Itau Unibanco Holding S.A. Takes $3.26 Million Position in Ambev S.A. (NYSE:ABEV)

Itau Unibanco Holding S.A. bought a new stake in Ambev S.A. (NYSE:ABEV) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,335,489 shares of the company’s stock, valued at approximately $3,259,000.

Other large investors also recently added to or reduced their stakes in the company. HTLF Bank purchased a new stake in shares of Ambev during the 3rd quarter worth approximately $26,000. Wealthstream Advisors Inc. purchased a new position in shares of Ambev during the 3rd quarter valued at approximately $29,000. Riversedge Advisors LLC bought a new position in Ambev during the third quarter worth $31,000. Foster Group Inc. acquired a new position in shares of Ambev during the third quarter valued at $33,000. Finally, BSW Wealth Partners acquired a new position in shares of Ambev in the 3rd quarter valued at $33,000. 8.13% of the stock is currently owned by institutional investors and hedge funds.

Ambev Price Performance

Shares of ABEV stock opened at $2.19 on Tuesday. The stock has a market cap of $34.50 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 6.60 and a beta of 1.05. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The business’s fifty day moving average is $2.27 and its 200 day moving average is $2.23.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Ambev in a research note on Friday, October 18th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ambev has an average rating of “Moderate Buy” and a consensus price target of $2.70.

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.