Fisher Asset Management LLC Increases Position in Ambev S.A. (NYSE:ABEV)

Fisher Asset Management LLC raised its holdings in shares of Ambev S.A. (NYSE:ABEV) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,647,224 shares of the company’s stock after buying an additional 74,076 shares during the period. Fisher Asset Management LLC’s holdings in Ambev were worth $13,779,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of Ambev by 311.9% during the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock valued at $1,575,000 after buying an additional 581,880 shares during the period. Raymond James & Associates grew its stake in Ambev by 154.0% in the second quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares in the last quarter. GSG Advisors LLC grew its stake in Ambev by 732.4% in the second quarter. GSG Advisors LLC now owns 497,718 shares of the company’s stock worth $1,015,000 after purchasing an additional 437,922 shares in the last quarter. Seafarer Capital Partners LLC grew its stake in Ambev by 6.3% in the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after purchasing an additional 1,770,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Ambev by 32.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock worth $2,606,000 after purchasing an additional 258,875 shares in the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Ambev Stock Down 2.1 %

Shares of NYSE ABEV opened at $2.15 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $33.79 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 6.75 and a beta of 1.06. The stock’s fifty day simple moving average is $2.28 and its two-hundred day simple moving average is $2.24. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00.

Analyst Upgrades and Downgrades

ABEV has been the topic of several research analyst reports. UBS Group dropped their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com initiated coverage on Ambev in a research note on Friday, October 18th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ambev currently has an average rating of “Moderate Buy” and a consensus target price of $2.70.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.