Cullen Capital Management LLC increased its stake in shares of Ambev S.A. (NYSE:ABEV) by 53.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 900,250 shares of the company’s stock after acquiring an additional 315,420 shares during the period. Cullen Capital Management LLC’s holdings in Ambev were worth $4,942,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ABEV. Verition Fund Management LLC acquired a new position in Ambev during the 2nd quarter worth approximately $111,000. King Luther Capital Management Corp acquired a new position in Ambev during the 1st quarter worth approximately $121,000. Stephens Inc. AR acquired a new position in Ambev during the 2nd quarter worth approximately $132,000. Virtu Financial LLC lifted its position in Ambev by 38.5% during the 2nd quarter. Virtu Financial LLC now owns 28,800 shares of the company’s stock worth $158,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY acquired a new position in Ambev during the 2nd quarter worth approximately $162,000. 7.30% of the stock is currently owned by hedge funds and other institutional investors.
Ambev (NYSE:ABEV) last released its earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Ambev had a return on equity of 23.24% and a net margin of 27.14%.
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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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