The Ambev SA (ABEV) Earns “Buy” Rating from Goldman Sachs Group Inc.

The Ambev SA (ABEV) Earns “Buy” Rating from Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reiterated their buy rating on shares of Ambev SA (NYSE:ABEV) in a report issued on Monday morning. They currently have a $6.80 price target on the stock.

Other analysts have also recently issued research reports about the stock. TheStreet raised shares of Ambev SA from a hold rating to a buy rating in a research note on Tuesday, August 9th. Morgan Stanley cut shares of Ambev SA from an overweight rating to an equal weight rating and upped their target price for the company from $6.00 to $6.40 in a research note on Thursday, August 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Ambev SA from a buy rating to a hold rating in a research note on Monday, July 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $6.05.

Shares of Ambev SA (NYSE:ABEV) opened at 5.99 on Monday. Ambev SA has a 12-month low of $3.86 and a 12-month high of $6.32. The stock’s 50 day moving average price is $6.03 and its 200-day moving average price is $5.68. The company has a market cap of $94.03 billion, a PE ratio of 26.16 and a beta of 0.82.

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Ambev SA by 897.1% in the first quarter. Wellington Management Group LLP now owns 5,111,252 shares of the company’s stock worth $26,477,000 after buying an additional 4,598,645 shares during the period. AXA raised its position in Ambev SA by 0.9% in the first quarter. AXA now owns 1,215,428 shares of the company’s stock worth $6,296,000 after buying an additional 11,429 shares during the period. Bank of Montreal Can purchased a new position in Ambev SA during the second quarter worth approximately $12,934,000. Envestnet Asset Management Inc. raised its position in Ambev SA by 53.3% in the first quarter. Envestnet Asset Management Inc. now owns 248,975 shares of the company’s stock worth $1,290,000 after buying an additional 86,558 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Ambev SA by 137.0% in the second quarter. Ameriprise Financial Inc. now owns 16,214,102 shares of the company’s stock worth $95,826,000 after buying an additional 9,373,557 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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