The Candriam Luxembourg S.C.A. Continues to Hold Stake in Ambev SA (ABEV)

The Candriam Luxembourg S.C.A. Continues to Hold Stake in Ambev SA (ABEV)

Candriam Luxembourg S.C.A. continued to hold its position in Ambev SA (NYSE:ABEV) during the second quarter, Holdings Channel reports. The fund owned 28,800 shares of the company’s stock at the end of the second quarter. Candriam Luxembourg S.C.A.’s holdings in Ambev SA were worth $170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABEV. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, CIBC World Markets Inc. raised its position in Ambev SA by 50.1% in the second quarter. CIBC World Markets Inc. now owns 47,470 shares of the company’s stock worth $281,000 after buying an additional 15,840 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Ambev SA (NYSE:ABEV) traded up 1.16% on Friday, hitting $6.09. 14,556,861 shares of the stock were exchanged. The company has a 50 day moving average of $6.03 and a 200 day moving average of $5.69. The stock has a market capitalization of $95.60 billion, a P/E ratio of 26.59 and a beta of 0.82. Ambev SA has a one year low of $3.86 and a one year high of $6.32.

A number of equities analysts recently commented on the stock. TheStreet raised shares of Ambev SA from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Zacks Investment Research lowered shares of Ambev SA from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Morgan Stanley lowered shares of Ambev SA from an “overweight” rating to an “equal weight” rating and lifted 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, Goldman Sachs Group Inc. reissued a “buy” rating and set a $6.80 target price on shares of Ambev SA in a research note on Monday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Ambev SA currently has a consensus rating of “Hold” and an average target price of $6.05.

About Ambev SA

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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