Ambev S.A. (NYSE:ABEV) is Kiltearn Partners LLP’s 9th Largest Position

Kiltearn Partners LLP reduced its position in Ambev S.A. (NYSE:ABEV) by 16.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,180,500 shares of the company’s stock after selling 2,395,400 shares during the quarter. Ambev makes up about 4.0% of Kiltearn Partners LLP’s investment portfolio, making the stock its 9th largest holding. Kiltearn Partners LLP owned approximately 0.08% of Ambev worth $29,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its holdings in Ambev by 311.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock valued at $1,575,000 after acquiring an additional 581,880 shares during the last quarter. Raymond James & Associates lifted its position in shares of Ambev by 154.0% in the second quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after buying an additional 1,094,629 shares in the last quarter. GSG Advisors LLC boosted its stake in Ambev by 732.4% during the second quarter. GSG Advisors LLC now owns 497,718 shares of the company’s stock valued at $1,015,000 after buying an additional 437,922 shares during the last quarter. Seafarer Capital Partners LLC grew its holdings in Ambev by 6.3% during the 3rd quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock valued at $73,368,000 after buying an additional 1,770,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Ambev by 32.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock worth $2,606,000 after acquiring an additional 258,875 shares during the last quarter. Institutional investors own 8.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ABEV shares. StockNews.com assumed coverage on shares of Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. UBS Group dropped their price target on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.70.

Ambev Price Performance

Ambev stock opened at $2.19 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $34.50 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 6.75 and a beta of 1.06. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The firm has a 50-day moving average price of $2.29 and a 200-day moving average price of $2.24.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.