Sei Investments Co. Has $19.55 Million Position in Ambev S.A. (ABEV)
Sei Investments Co. boosted its position in shares of Ambev S.A. (NYSE:ABEV) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,966,753 shares of the company’s stock after purchasing an additional 192,179 shares during the period. Sei Investments Co.’s holdings in Ambev were worth $19,551,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Ambev by 17.3% in the second 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 raised its stake in shares of Ambev by 0.7% in the second 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. State Street Corp raised its stake in shares of Ambev by 2.9% in the second quarter. State Street Corp now owns 13,657,066 shares of the company’s stock worth $74,978,000 after acquiring an additional 385,863 shares during the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Ambev by 65.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 5,555,409 shares of the company’s stock worth $30,499,000 after buying an additional 2,188,000 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Ambev by 1,915.2% during the second quarter. First Trust Advisors LP now owns 299,079 shares of the company’s stock worth $1,642,000 after buying an additional 284,238 shares during the last quarter. 7.28% 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 $0.06 during midday trading on Wednesday, reaching $6.06. 13,492,000 shares of the company were exchanged, compared to its average volume of 21,414,369. The firm has a market capitalization of $96,090.74, a PE ratio of 26.61 and a beta of 0.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.76 and a current ratio of 0.95. Ambev S.A. has a 52-week low of $4.70 and a 52-week high of $7.03.
A number of equities research analysts recently weighed in on ABEV shares. Zacks Investment Research downgraded shares of Ambev from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Credit Suisse Group raised shares of Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. BidaskClub downgraded shares of Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. Evercore ISI set a $9.00 price target on shares of Ambev and gave the stock a “buy” rating in a research note on Sunday, October 15th. Finally, TheStreet downgraded shares of Ambev from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $7.83.
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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