AMBEV S A/S (ABEV) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of AMBEV S A/S (NYSE:ABEV) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Companhia de Bebidas das Americas (AmBev), based in São Paulo, is engaged in producing, distributing and selling beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in many countries across the Americas. It maintains an agreement with PepsiCo International, Inc. to bottle, sell and distribute Pepsi products in Brazil and in other Latin American countries, including Lipton Ice Tea, Gatorade, H2OH!, Propel and Frutzzz. AmBev conducts its operations through three business units: Latin America North, Latin America South and Canada. Latin America North includes its operations in Brazil, where it operates two divisions: beer sales and carbonated soft drinks and non-alcoholic non-carbonated sales; and its operations in its Hispanic Latin America Operations, excluding Latin America South, operations. Latin America South includes its Quinsa operations in the countries of Argentina, Bolivia, Paraguay, Uruguay and Chile. Canada, represented by Labatt, includes domestic sales in Canada. “

Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of AMBEV S A/S from a sell rating to a hold rating in a research note on Thursday, August 16th. JPMorgan Chase & Co. downgraded shares of AMBEV S A/S from a neutral rating to an underweight rating in a research note on Thursday, October 25th. Bank of America downgraded shares of AMBEV S A/S from a neutral rating to an underperform rating and dropped their price target for the stock from $5.40 to $4.00 in a research note on Thursday, October 25th. Finally, UBS Group downgraded shares of AMBEV S A/S from a buy rating to a sell rating in a research note on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $6.13.

NYSE ABEV opened at $4.27 on Friday. AMBEV S A/S has a 1-year low of $3.86 and a 1-year high of $7.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 1.02. The firm has a market capitalization of $67.04 billion, a PE ratio of 18.57, a P/E/G ratio of 2.08 and a beta of 0.54.

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC World Markets Inc. acquired a new position in shares of AMBEV S A/S in the third quarter worth $103,000. Sawtooth Solutions LLC acquired a new position in shares of AMBEV S A/S in the third quarter worth $104,000. One Wealth Advisors LLC acquired a new position in shares of AMBEV S A/S in the third quarter worth $110,000. Henry James International Management Inc. acquired a new position in shares of AMBEV S A/S in the third quarter worth $110,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in AMBEV S A/S by 184.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 34,750 shares of the company’s stock worth $159,000 after buying an additional 22,530 shares during the last quarter. 7.05% of the stock is currently owned by institutional investors and hedge funds.

AMBEV S A/S Company Profile

Ambev SA, through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks (CSD), other non-alcoholic beverages, malt, and food in the Americas. It operates through Latin America North, Latin America South, and Canada segments. The company offers beer primarily under the Skol, Brahma, Antarctic, Brahva, Brahva Gold, Extra, Budweiser, Bud Light, Stella Artois, Corona, Modelo Especial, Beck, Leffe, Hoegaarden, Presidente, Brahma Light, President Light, Bohemia, The One, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Báltica, Ouro Fino, Pilsen, Patricia, Labatt Blue, Alexander Keith's, Kokanee, Banks, and Deputy brands.

See Also: Dow Jones Industrial Average (DJIA)

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