Oldfield Partners LLP Trims Stock Holdings in Ambev S.A. (NYSE:ABEV)

Oldfield Partners LLP lowered its position in Ambev S.A. (NYSE:ABEV) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,599,000 shares of the company’s stock after selling 1,302,900 shares during the quarter. Ambev makes up approximately 1.4% of Oldfield Partners LLP’s portfolio, making the stock its 13th biggest position. Oldfield Partners LLP’s holdings in Ambev were worth $7,378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its holdings 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 valued at $21,270,000 after purchasing an additional 423,792 shares during the period. Kiltearn Partners LLP grew its holdings in Ambev by 234.8% during the fourth quarter. Kiltearn Partners LLP now owns 5,868,100 shares of the company’s stock worth $16,431,000 after acquiring an additional 4,115,300 shares during the period. Sei Investments Co. grew its holdings in Ambev by 14.0% during the first quarter. Sei Investments Co. now owns 9,093,184 shares of the company’s stock worth $22,551,000 after acquiring an additional 1,114,392 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Ambev by 8.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 70,787 shares of the company’s stock worth $176,000 after acquiring an additional 5,767 shares during the period. Finally, Perpetual Ltd grew its holdings in Ambev by 10.1% during the first quarter. Perpetual Ltd now owns 65,003,922 shares of the company’s stock worth $161,210,000 after acquiring an additional 5,943,974 shares during the period. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Stock Up 0.4 %

Shares of NYSE:ABEV opened at $2.31 on Monday. 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 S.A. has a 52-week low of $2.01 and a 52-week high of $3.00. The stock’s fifty day simple moving average is $2.23 and its 200-day simple moving average is $2.29. The company has a market capitalization of $36.39 billion, a P/E ratio of 12.16, a P/E/G ratio of 5.27 and a beta of 1.05.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Ambev had a return on equity of 16.94% and a net margin of 17.93%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the business earned $0.03 earnings per share. As a group, equities research analysts forecast that Ambev S.A. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABEV has been the topic of a number of recent analyst reports. StockNews.com lowered Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. UBS Group dropped their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.75.

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.