Ballentine Partners LLC Raises Stock Holdings in Ambev S.A. (NYSE:ABEV)

Posted by Defense World Staff on Jul 18th, 2023

Ballentine Partners LLC boosted its holdings in Ambev S.A. (NYSE:ABEV – Free Report) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,178 shares of the company’s stock after buying an additional 4,446 shares during the quarter. Ballentine Partners LLC’s holdings in Ambev were worth $43,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABEV. Kellett Schaffner Wealth Advisors LLC bought a new stake in shares of Ambev during the 4th quarter valued at about $27,000. Brown Brothers Harriman & Co. grew its stake in shares of Ambev by 117.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock valued at $27,000 after purchasing an additional 4,448 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Ambev during the 4th quarter valued at about $29,000. SVB Wealth LLC bought a new stake in shares of Ambev during the 2nd quarter valued at about $29,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Ambev during the 4th quarter valued at about $30,000. 8.35% of the stock is currently owned by institutional investors.

Ambev Stock Performance

Shares of NYSE:ABEV opened at $3.04 on Tuesday. The stock has a 50 day moving average of $3.01 and a 200 day moving average of $2.80. The company has a market cap of $47.88 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. The company has a current ratio of 0.99, a quick ratio of 0.63 and a debt-to-equity ratio of 0.03. Ambev S.A. has a 12-month low of $2.40 and a 12-month high of $3.24.

Ambev (NYSE:ABEV – Get Free Report) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Ambev had a return on equity of 17.44% and a net margin of 18.00%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.84 billion. As a group, equities research analysts expect that Ambev S.A. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABEV. Sanford C. Bernstein began coverage on Ambev in a research note on Wednesday, May 24th. They set an “outperform” rating and a $3.74 price target for the company. Bank of America upgraded Ambev from a “neutral” rating to a “buy” rating in a research note on Monday, July 10th. Finally, StockNews.com downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 11th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ambev has a consensus rating of “Buy” and a consensus price target of $3.74.

About Ambev

(Free Report)

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.

Ballentine Partners LLC Raises Stock Holdings in Ambev S.A. (NYSE:ABEV)

Ambev Stock Performance

Wall Street Analyst Weigh In

About Ambev

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