Ambev S.A. (NYSE:ABEV) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its stake in Ambev S.A. (NYSE:ABEV) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,227,442 shares of the company’s stock after selling 105,043 shares during the quarter. Pzena Investment Management LLC’s holdings in Ambev were worth $39,837,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Coldstream Capital Management Inc. bought a new stake in Ambev in the third quarter worth about $26,000. Ieq Capital LLC bought a new stake in Ambev in the third quarter worth about $27,000. SVB Wealth LLC acquired a new stake in Ambev during the 4th quarter worth about $34,000. Hartford Financial Management Inc. raised its holdings in Ambev by 49.9% during the 4th quarter. Hartford Financial Management Inc. now owns 12,739 shares of the company’s stock worth $36,000 after buying an additional 4,238 shares during the period. Finally, HTLF Bank acquired a new stake in Ambev during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analyst Ratings Changes

ABEV has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of Ambev in a report on Friday, March 1st. StockNews.com upgraded Ambev from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, Barclays cut their price objective on Ambev from $3.00 to $2.50 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Ambev has an average rating of “Moderate Buy” and an average target price of $3.03.

Ambev Price Performance

Shares of ABEV remained flat at $2.30 during trading hours on Thursday. The stock had a trading volume of 5,653,621 shares, compared to its average volume of 12,414,957. The company has a market cap of $36.23 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 3.43 and a beta of 1.07. Ambev S.A. has a one year low of $2.23 and a one year high of $3.23. The company has a current ratio of 0.99, a quick ratio of 0.69 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average of $2.39 and a 200 day moving average of $2.60.

Ambev (NYSE:ABEV) last issued its earnings results on Thursday, February 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $4.04 billion for the quarter. Ambev had a return on equity of 17.53% and a net margin of 18.25%. As a group, analysts forecast that Ambev S.A. will post 0.18 EPS for the current fiscal year.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.