Ameriprise Financial Inc. Acquires 163,112 Shares of Ambev S.A. (ABEV)

Ameriprise Financial Inc. raised its holdings in Ambev S.A. (NYSE:ABEV) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,546,899 shares of the company’s stock after acquiring an additional 163,112 shares during the quarter. Ameriprise Financial Inc. owned about 0.09% of Ambev worth $95,863,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. raised its holdings in Ambev by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 233,896 shares of the company’s stock worth $1,541,000 after purchasing an additional 24,111 shares during the period. Quantbot Technologies LP raised its holdings in Ambev by 525.6% in the third quarter. Quantbot Technologies LP now owns 351,982 shares of the company’s stock worth $2,319,000 after purchasing an additional 295,718 shares during the period. Kiwi Wealth Investments Limited Partnership acquired a new stake in Ambev in the third quarter worth $1,520,000. Bank of New York Mellon Corp raised its holdings in Ambev by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 4,039,067 shares of the company’s stock worth $26,618,000 after purchasing an additional 140,214 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Ambev in the third quarter worth $897,000. 7.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ambev S.A. (ABEV) opened at $6.38 on Monday. Ambev S.A. has a twelve month low of $4.70 and a twelve month high of $7.03. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.08. The company has a market cap of $100,173.03, a price-to-earnings ratio of 27.74 and a beta of 0.71.

ABEV has been the topic of several analyst reports. Barclays PLC reiterated a “hold” rating on shares of Ambev in a report on Sunday, July 30th. Zacks Investment Research lowered shares of Ambev from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Credit Suisse Group upgraded shares of Ambev from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 12th. BidaskClub lowered shares of Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 28th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $8.50 target price (up from $7.00) on shares of Ambev in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.83.

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Ambev Profile

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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Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

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