AMBEV S A/S (ABEV) Stock Rating Upgraded by Zacks Investment Research

AMBEV S A/S (NYSE:ABEV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other analysts also recently commented on the stock. Bank of America downgraded shares of AMBEV S A/S from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $5.40 to $4.00 in a research report on Thursday, October 25th. JPMorgan Chase & Co. downgraded shares of AMBEV S A/S from a “neutral” rating to an “underweight” rating in a research report on Thursday, October 25th. UBS Group downgraded shares of AMBEV S A/S from a “buy” rating to a “sell” rating in a research report on Tuesday, October 2nd. ValuEngine upgraded shares of AMBEV S A/S from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, Barclays upgraded shares of AMBEV S A/S from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.13.

ABEV stock opened at $4.16 on Wednesday. AMBEV S A/S has a 12 month low of $3.86 and a 12 month high of $7.43. The firm has a market capitalization of $69.56 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.15 and a beta of 0.55. The company has a quick ratio of 0.82, a current ratio of 1.02 and a debt-to-equity ratio of 0.06.

A number of hedge funds have recently added to or reduced their stakes in ABEV. Renaissance Technologies LLC raised its position in AMBEV S A/S by 1,785.4% during the 2nd quarter. Renaissance Technologies LLC now owns 38,834,997 shares of the company’s stock worth $179,806,000 after buying an additional 36,775,197 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in AMBEV S A/S by 17.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 69,120,615 shares of the company’s stock worth $315,881,000 after buying an additional 10,460,543 shares during the last quarter. Vontobel Asset Management Inc. raised its position in AMBEV S A/S by 5.3% during the 2nd quarter. Vontobel Asset Management Inc. now owns 173,943,259 shares of the company’s stock worth $819,935,000 after buying an additional 8,727,647 shares during the last quarter. Millennium Management LLC raised its position in AMBEV S A/S by 19,565.5% during the 2nd quarter. Millennium Management LLC now owns 6,800,513 shares of the company’s stock worth $31,486,000 after buying an additional 6,765,932 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in AMBEV S A/S during the 2nd quarter worth $24,542,000. Hedge funds and other institutional investors own 7.05% of the company’s stock.

About AMBEV S A/S

Ambev SA engages in the production, distribution, and sale of beverages. The company products include beer, carbonated soft drinks, and other non-alcoholic and non-carbonated products. Its operates a distribution network that comprises beverage distributors, supermarkets, bars and restaurants, as well as small groceries, bakeries, snack bars and franchises, and points of sale in Brazil.

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