Lenox Wealth Management Inc. Invests $396,000 in Ambev S.A. (ABEV) Stock
Lenox Wealth Management Inc. bought a new position in shares of Ambev S.A. (NYSE:ABEV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 71,535 shares of the company’s stock, valued at approximately $396,000.
Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Ambev by 17.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock worth $472,786,000 after acquiring an additional 12,723,137 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Ambev by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,838,533 shares of the company’s stock worth $32,054,000 after acquiring an additional 39,385 shares during the last quarter. UBS Group AG lifted its position in Ambev by 34.3% during the 1st quarter. UBS Group AG now owns 3,099,407 shares of the company’s stock worth $17,852,000 after acquiring an additional 791,973 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Ambev by 17.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,755,384 shares of the company’s stock worth $21,632,000 after acquiring an additional 548,774 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its position in Ambev by 65.0% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 5,555,409 shares of the company’s stock worth $30,499,000 after acquiring an additional 2,188,000 shares during the last quarter. 7.30% of the stock is owned by hedge funds and other institutional investors.
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Shares of Ambev S.A. (NYSE ABEV) traded down 1.35% on Friday, hitting $6.59. 2,451,801 shares of the stock were exchanged. Ambev S.A. has a one year low of $4.70 and a one year high of $6.86. The firm has a market capitalization of $103.51 billion, a PE ratio of 27.57 and a beta of 0.66. The company has a 50-day moving average price of $6.50 and a 200-day moving average price of $5.95.
Ambev (NYSE:ABEV) last announced its earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.33 billion. Ambev had a net margin of 27.14% and a return on equity of 23.24%. Equities research analysts expect that Ambev S.A. will post $0.23 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Ambev from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th. Credit Suisse Group AG raised shares of Ambev from a “neutral” rating to an “outperform” rating in a research report on Tuesday, September 12th. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Ambev in a research report on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.48.
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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