Anheuser-Busch InBev SA/NV (NYSE:BUD) Shares Gap Up After Strong Earnings

Shares of Anheuser-Busch InBev SA/NV (NYSE:BUD) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $54.77, but opened at $59.19. Anheuser-Busch InBev SA/NV shares last traded at $59.45, with a volume of 1,542,361 shares changing hands.

The consumer goods maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.13. Anheuser-Busch InBev SA/NV had a net margin of 10.98% and a return on equity of 15.29%.

Analysts Set New Price Targets

Separately, TD Cowen reduced their price objective on Anheuser-Busch InBev SA/NV from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $64.00.

Hedge Funds Weigh In On Anheuser-Busch InBev SA/NV

A number of hedge funds and other institutional investors have recently made changes to their positions in BUD. Allspring Global Investments Holdings LLC raised its position in Anheuser-Busch InBev SA/NV by 28.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,930 shares of the consumer goods maker’s stock worth $459,000 after purchasing an additional 1,534 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Anheuser-Busch InBev SA/NV by 18.4% in the 3rd quarter. Private Advisor Group LLC now owns 13,039 shares of the consumer goods maker’s stock worth $864,000 after buying an additional 2,028 shares in the last quarter. Optas LLC bought a new position in shares of Anheuser-Busch InBev SA/NV during the 3rd quarter worth approximately $238,000. GFS Advisors LLC boosted its stake in Anheuser-Busch InBev SA/NV by 56,727.5% in the 3rd quarter. GFS Advisors LLC now owns 196,055 shares of the consumer goods maker’s stock valued at $12,996,000 after buying an additional 195,710 shares in the last quarter. Finally, Forum Financial Management LP bought a new stake in Anheuser-Busch InBev SA/NV in the third quarter valued at $225,000. 5.53% of the stock is owned by institutional investors.

Anheuser-Busch InBev SA/NV Stock Up 7.3 %

The stock has a market capitalization of $105.66 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08. The firm has a 50 day simple moving average of $50.16 and a 200-day simple moving average of $56.77. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.51.

Anheuser-Busch InBev SA/NV Company Profile

Anheuser-Busch InBev SA/NV produces, distributes, exports, markets, and sells beer and beverages. It offers a portfolio of approximately 500 beer brands, which primarily include Budweiser, Corona, and Stella Artois; Beck's, Hoegaarden, Leffe, and Michelob Ultra; and Aguila, Antarctica, Bud Light, Brahma, Cass, Castle, Castle Lite, Cristal, Harbin, Jupiler, Modelo Especial, Quilmes, Victoria, Sedrin, and Skol brands.