PNC Financial Services Group Inc. boosted its stake in shares of Ambev S.A. (NYSE:ABEV) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,167 shares of the company’s stock after purchasing an additional 3,206 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ambev were worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Vontobel Asset Management Inc. boosted its position in Ambev by 4.6% during the second quarter. Vontobel Asset Management Inc. now owns 168,685,140 shares of the company’s stock valued at $942,525,000 after purchasing an additional 7,409,229 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Ambev by 17.3% during the second quarter. JPMorgan Chase & Co. now owns 86,117,491 shares of the company’s stock valued at $472,786,000 after purchasing an additional 12,723,137 shares in the last quarter. Vanguard Group Inc. boosted its position in Ambev by 1.5% during the first quarter. Vanguard Group Inc. now owns 40,196,354 shares of the company’s stock valued at $231,531,000 after purchasing an additional 607,365 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in Ambev by 9.8% during the second quarter. Mondrian Investment Partners LTD now owns 31,056,100 shares of the company’s stock valued at $170,498,000 after purchasing an additional 2,774,000 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Ambev by 12,519.6% during the first quarter. BlackRock Inc. now owns 29,177,225 shares of the company’s stock valued at $168,061,000 after purchasing an additional 28,946,020 shares in the last quarter. 7.29% of the stock is currently owned by institutional investors.

Shares of Ambev S.A. (NYSE:ABEV) opened at 6.71 on Friday. Ambev S.A. has a 1-year low of $4.70 and a 1-year high of $7.03. The stock has a market capitalization of $105.40 billion, a PE ratio of 28.08 and a beta of 0.66. The firm has a 50-day moving average price of $6.67 and a 200-day moving average price of $6.04.

Ambev (NYSE:ABEV) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Ambev had a return on equity of 23.24% and a net margin of 27.14%. On average, equities research analysts forecast that Ambev S.A. will post $0.23 earnings per share for the current year.

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A number of brokerages recently weighed in on ABEV. Evercore ISI set a $9.00 price objective on Ambev and gave the company a “buy” rating in a research report on Sunday, October 15th. BidaskClub cut Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. Barclays PLC reiterated a “hold” rating on shares of Ambev in a research note on Sunday, July 30th. Zacks Investment Research upgraded Ambev from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Monday, October 2nd. Finally, Credit Suisse Group upgraded Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.03.

About Ambev

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.

Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

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