Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Ambev S.A. (NYSE:ABEV)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Ambev S.A. (NYSE:ABEV) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,098,698 shares of the company’s stock after selling 19,346 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ambev were worth $3,152,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ABEV. Goldman Sachs Group Inc. lifted its stake in shares of Ambev by 244.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 43,146,270 shares of the company’s stock worth $108,297,000 after purchasing an additional 30,623,051 shares during the last quarter. BlackRock Inc. raised its stake in Ambev by 39.1% in the third quarter. BlackRock Inc. now owns 48,691,824 shares of the company’s stock valued at $137,798,000 after buying an additional 13,691,138 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ambev by 102.1% in the first quarter. Renaissance Technologies LLC now owns 22,177,326 shares of the company’s stock valued at $62,540,000 after buying an additional 11,204,526 shares during the last quarter. Millennium Management LLC raised its stake in Ambev by 34,240.8% in the fourth quarter. Millennium Management LLC now owns 8,181,005 shares of the company’s stock valued at $22,252,000 after buying an additional 8,157,182 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Ambev by 73.6% in the fourth quarter. Deutsche Bank AG now owns 10,928,300 shares of the company’s stock valued at $29,725,000 after buying an additional 4,632,200 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ABEV. StockNews.com began coverage on Ambev in a research note on Friday, January 26th. They issued a “buy” rating for the company. Barclays cut Ambev from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $3.50 to $3.00 in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ambev in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.20.

Ambev Price Performance

Shares of ABEV stock opened at $2.26 on Thursday. The stock’s 50-day simple moving average is $2.50 and its 200-day simple moving average is $2.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 0.89. The firm has a market capitalization of $35.52 billion, a PE ratio of 12.53, a P/E/G ratio of 2.35 and a beta of 1.08. Ambev S.A. has a fifty-two week low of $2.24 and a fifty-two week high of $3.23.

Ambev (NYSE:ABEV) last announced its quarterly earnings data 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 business had revenue of $4.04 billion for the quarter. Ambev had a return on equity of 17.60% and a net margin of 18.19%. Equities analysts expect that Ambev S.A. will post 0.19 earnings per share for the current year.

Ambev 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.