Ambev S.A. $ABEV Holdings Lessened by Seafarer Capital Partners LLC

Seafarer Capital Partners LLC lowered its stake in shares of Ambev S.A. (NYSE:ABEV) by 95.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,069,000 shares of the company’s stock after selling 23,000,000 shares during the quarter. Ambev accounts for about 0.8% of Seafarer Capital Partners LLC’s investment portfolio, making the stock its 8th largest holding. Seafarer Capital Partners LLC’s holdings in Ambev were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its position in shares of Ambev by 0.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 349,323,217 shares of the company’s stock valued at $1,096,875,000 after acquiring an additional 2,338,660 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Ambev by 6.5% during the 1st quarter. Renaissance Technologies LLC now owns 27,354,300 shares of the company’s stock worth $79,875,000 after purchasing an additional 1,674,900 shares in the last quarter. RWC Asset Management LLP grew its holdings in shares of Ambev by 2.2% during the 3rd quarter. RWC Asset Management LLP now owns 10,779,739 shares of the company’s stock worth $31,477,000 after purchasing an additional 231,992 shares in the last quarter. Formuepleje A S bought a new position in shares of Ambev in the third quarter worth $23,610,000. Finally, DJE Kapital AG bought a new position in shares of Ambev in the first quarter worth $14,778,000. 8.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABEV has been the subject of a number of analyst reports. Bank of America downgraded Ambev from a “neutral” rating to an “underperform” rating and set a $3.30 price target for the company. in a research note on Wednesday, October 7th. Scotiabank downgraded shares of Ambev from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, July 15th. UBS Group set a $2.85 target price on shares of Ambev in a report on Tuesday, August 11th. Barclays cut their price target on shares of Ambev from $3.50 to $3.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Finally, Wall Street Zen lowered shares of Ambev from a “buy” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $3.01.

Ambev Stock Up 1.3%

ABEV stock opened at $2.81 on Thursday. The firm has a 50-day moving average price of $3.00 and a 200-day moving average price of $3.03. Ambev S.A. has a 12 month low of $2.28 and a 12 month high of $3.45. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $44.21 billion, a P/E ratio of 14.58 and a beta of 0.58.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.21 billion. Ambev had a net margin of 17.80% and a return on equity of 18.13%. As a group, equities research analysts anticipate that Ambev S.A. will post 0.20 EPS for the current fiscal year.

Insider Buying and Selling

In other Ambev news, insider Carla Smith De Vasconcellos Crippa Prado sold 60,757 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $3.09, for a total value of $187,739.13. Following the sale, the insider owned 80,707 shares in the company, valued at $249,384.63. This trade represents a 42.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

About Ambev

Ambev S.A. is a beverage company headquartered in São Paulo, Brazil. It produces, distributes and sells beer and other beverages, including soft drinks, water and energy drinks. Its beer portfolio includes brands such as Brahma, Antarctica and Skol, as well as international brands marketed under license or through distribution agreements. The company serves customers across Brazil and other markets in Latin America, including countries in South America, Central America and the Caribbean. Its operations span beverage production, packaging and distribution, supported by a network that delivers products to retailers, bars and restaurants.