Ambev (NYSE:ABEV) Announces Quarterly Earnings Results

Ambev (NYSE:ABEV) posted its earnings results on Wednesday. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05, FiscalAI reports. The firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Ambev had a net margin of 17.69% and a return on equity of 16.83%.

Ambev Price Performance

Shares of NYSE:ABEV traded down $0.10 during trading on Thursday, reaching $3.34. The company had a trading volume of 13,491,877 shares, compared to its average volume of 24,844,656. The firm’s fifty day moving average is $2.99 and its 200 day moving average is $2.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.73 and a current ratio of 0.96. The firm has a market capitalization of $52.57 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. Ambev has a twelve month low of $2.10 and a twelve month high of $3.45.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABEV. Wall Street Zen downgraded Ambev from a “buy” rating to a “hold” rating in a research report on Monday, March 30th. Barclays lifted their target price on Ambev from $3.00 to $3.50 and gave the company an “equal weight” rating in a research note on Wednesday. UBS Group set a $2.65 price target on Ambev and gave the stock a “sell” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings raised Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.01.

Insider Activity at Ambev

In related news, insider De Lacerda Eduardo Cavalcanti sold 152,386 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $2.85, for a total transaction of $434,300.10. Following the sale, the insider owned 223,340 shares of the company’s stock, valued at $636,519. The trade was a 40.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Ambev

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GQG Partners LLC raised its stake in shares of Ambev by 9.1% in the 4th quarter. GQG Partners LLC now owns 172,969,655 shares of the company’s stock worth $427,235,000 after buying an additional 14,468,963 shares in the last quarter. Morgan Stanley boosted its stake in Ambev by 291.2% during the fourth quarter. Morgan Stanley now owns 45,462,628 shares of the company’s stock valued at $112,293,000 after buying an additional 33,842,540 shares in the last quarter. Bank of America Corp DE grew its holdings in Ambev by 9.9% during the second quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock worth $66,288,000 after acquiring an additional 2,479,310 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Ambev by 74.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock worth $32,624,000 after acquiring an additional 5,740,155 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Ambev by 248.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 13,135,697 shares of the company’s stock worth $32,445,000 after acquiring an additional 9,361,815 shares in the last quarter. 8.13% of the stock is owned by institutional investors.

About Ambev

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.