Bank of Montreal Can Purchases Shares of 2,188,484 Ambev SA (ABEV)
Bank of Montreal Can purchased a new position in Ambev SA (NYSE:ABEV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,188,484 shares of the company’s stock, valued at approximately $12,934,000.
Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Ambev SA by 897.1% in the first quarter. Wellington Management Group LLP now owns 5,111,252 shares of the company’s stock worth $26,477,000 after buying an additional 4,598,645 shares in the last quarter. AXA raised its stake in shares of Ambev SA by 0.9% in the first quarter. AXA now owns 1,215,428 shares of the company’s stock worth $6,296,000 after buying an additional 11,429 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ambev SA by 53.3% in the first quarter. Envestnet Asset Management Inc. now owns 248,975 shares of the company’s stock worth $1,290,000 after buying an additional 86,558 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Ambev SA by 10.1% in the first quarter. BlackRock Group LTD now owns 20,956,901 shares of the company’s stock worth $108,556,000 after buying an additional 1,924,991 shares in the last quarter. Finally, CIBC World Markets Inc. raised its stake in shares of Ambev SA by 50.1% in the second quarter. CIBC World Markets Inc. now owns 47,470 shares of the company’s stock worth $281,000 after buying an additional 15,840 shares in the last quarter. 7.21% of the stock is currently owned by hedge funds and other institutional investors.
Ambev SA (NYSE:ABEV) traded up 1.00% during midday trading on Friday, hitting $6.09. 8,651,044 shares of the stock were exchanged. The stock has a market cap of $95.60 billion, a price-to-earnings ratio of 26.71 and a beta of 0.92. Ambev SA has a 52 week low of $3.86 and a 52 week high of $6.32. The firm’s 50-day moving average is $6.06 and its 200 day moving average is $5.62.
A number of equities research analysts have weighed in on the company. TheStreet raised Ambev SA from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Ambev SA from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Finally, Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $6.00 to $6.40 in a research report on Thursday, August 18th. They noted that the move was a valuation call.
About Ambev SA
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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