Ambev (NYSE:ABEV) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Ambev (NYSE:ABEV) in a research note issued on Thursday. The brokerage set a “buy” rating on the stock.

Ambev Stock Down 3.3 %

Shares of NYSE:ABEV opened at $1.77 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $27.88 billion, a P/E ratio of 9.83, a P/E/G ratio of 6.67 and a beta of 1.05. Ambev has a 52-week low of $1.76 and a 52-week high of $2.82. The stock’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $2.21.

Hedge Funds Weigh In On Ambev

A number of institutional investors have recently modified their holdings of the company. MCIA Inc purchased a new stake in Ambev in the 3rd quarter worth approximately $25,000. HTLF Bank acquired a new stake in shares of Ambev during the third quarter worth $26,000. Wealthstream Advisors Inc. purchased a new stake in shares of Ambev in the third quarter valued at $29,000. Riversedge Advisors LLC acquired a new position in Ambev in the third quarter valued at $31,000. Finally, Foster Group Inc. purchased a new position in Ambev during the third quarter worth about $33,000. 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.