Vontobel Asset Management Inc. reduced its position in Ambev SA (NYSE:ABEV) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,275,990 shares of the company’s stock after selling 3,556,038 shares during the period. Ambev SA makes up 6.0% of Vontobel Asset Management Inc.’s holdings, making the stock its 2nd largest position. Vontobel Asset Management Inc. owned 0.79% of Ambev SA worth $762,040,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. Park National Corp OH purchased a new stake in shares of Ambev SA during the third quarter worth about $119,000. Commonwealth Equity Services Inc boosted its stake in shares of Ambev SA by 69.6% in the second quarter. Commonwealth Equity Services Inc now owns 23,647 shares of the company’s stock worth $140,000 after buying an additional 9,704 shares during the period. Global X Management Co. LLC boosted its stake in shares of Ambev SA by 13.3% in the second quarter. Global X Management Co. LLC now owns 32,804 shares of the company’s stock worth $194,000 after buying an additional 3,846 shares during the period. Ingalls & Snyder LLC purchased a new stake in shares of Ambev SA during the second quarter worth about $197,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Ambev SA by 35.5% in the second quarter. UBS Asset Management Americas Inc. now owns 34,000 shares of the company’s stock worth $201,000 after buying an additional 8,900 shares during the period. 7.58% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Ambev SA (NYSE:ABEV)

Ambev SA (NYSE:ABEV) traded up 2.37% during trading on Monday, reaching $5.18. 10,762,723 shares of the company traded hands. The company has a market capitalization of $81.32 billion, a P/E ratio of 23.12 and a beta of 0.77. The firm has a 50-day moving average price of $5.83 and a 200-day moving average price of $5.77. Ambev SA has a 52 week low of $3.86 and a 52 week high of $6.34.

The firm also recently disclosed a dividend, which will be paid on Monday, December 5th. Shareholders of record on Thursday, November 3rd will be paid a dividend of $0.0514 per share. This is a boost from Ambev SA’s previous dividend of $0.04. The ex-dividend date of this dividend is Tuesday, November 1st.

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Ambev SA from a “neutral” rating to an “overweight” rating and set a $5.60 price objective for the company in a research note on Thursday, November 10th. TheStreet raised shares of Ambev SA from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Morgan Stanley cut shares of Ambev SA from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $6.00 to $6.40 in a research note on Thursday, August 18th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $6.80 price objective on shares of Ambev SA in a research note on Monday, October 10th. Finally, Barclays PLC started coverage on shares of Ambev SA in a research note on Thursday, November 3rd. They set an “equal weight” rating and a $6.00 target price for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ambev SA currently has an average rating of “Buy” and an average price target of $6.16.

Ambev SA Company Profile

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.

5 Day Chart for NYSE:ABEV

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