Neuberger Berman Group LLC boosted its stake in Ambev SA (NYSE:ABEV) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 13,321,526 shares of the company’s stock after buying an additional 131,931 shares during the period. Neuberger Berman Group LLC’s holdings in Ambev SA were worth $81,128,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in ABEV. Aperio Group LLC boosted its position in Ambev SA by 3.2% in the third quarter. Aperio Group LLC now owns 923,790 shares of the company’s stock valued at $5,626,000 after buying an additional 28,411 shares in the last quarter. BB&T Corp bought a new position in Ambev SA during the third quarter valued at about $737,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Ambev SA during the third quarter valued at about $100,000. Mizuho Trust & Banking Co. Ltd. boosted its position in Ambev SA by 4.5% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,317,765 shares of the company’s stock valued at $8,025,000 after buying an additional 56,571 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Ambev SA by 2.9% in the third quarter. Advisors Asset Management Inc. now owns 145,847 shares of the company’s stock valued at $888,000 after buying an additional 4,179 shares in the last quarter. 7.23% of the stock is currently owned by hedge funds and other institutional investors.
Ambev SA (NYSE:ABEV) opened at 5.11 on Tuesday. The stock has a market capitalization of $80.22 billion, a PE ratio of 22.81 and a beta of 0.77. Ambev SA has a 12-month low of $3.86 and a 12-month high of $6.34. The stock’s 50 day moving average is $5.66 and its 200 day moving average is $5.76.
The firm also recently disclosed a dividend, which will be paid on Monday, December 5th. Shareholders of record on Thursday, November 3rd will be paid a $0.0514 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This is a boost from Ambev SA’s previous dividend of $0.04.
Several analysts have issued reports on the stock. TheStreet raised shares of Ambev SA from a “hold” rating to a “buy” rating in a research note on Friday, October 28th. Barclays PLC assumed coverage on shares of Ambev SA in a research note on Thursday, November 3rd. They set an “equal weight” rating and a $6.00 target price on the stock. JPMorgan Chase & Co. raised shares of Ambev SA from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a research note on Thursday, November 10th. Morgan Stanley downgraded shares of Ambev SA from an “overweight” rating to an “equal weight” rating and boosted 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, October 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Ambev SA presently has an average rating of “Buy” and an average target price of $6.16.
Ambev SA Company Profile
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.