Teachers Retirement System of The State of Kentucky purchased a new stake in shares of AMBEV S A/S (NYSE:ABEV) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 635,200 shares of the company’s stock, valued at approximately $2,903,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sawtooth Solutions LLC bought a new stake in shares of AMBEV S A/S during the 3rd quarter worth $104,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of AMBEV S A/S by 184.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 34,750 shares of the company’s stock worth $159,000 after acquiring an additional 22,530 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of AMBEV S A/S during the 2nd quarter worth $176,000. LPL Financial LLC bought a new stake in shares of AMBEV S A/S during the 1st quarter worth $227,000. Finally, Millennium Management LLC bought a new stake in shares of AMBEV S A/S during the 1st quarter worth $251,000. 6.83% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on ABEV shares. Zacks Investment Research raised AMBEV S A/S from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. ValuEngine raised AMBEV S A/S from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. Barclays raised AMBEV S A/S from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Friday, July 27th. UBS Group lowered AMBEV S A/S from a “buy” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Bank of America lowered AMBEV S A/S from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $5.40 to $4.00 in a research note on Thursday, October 25th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. AMBEV S A/S presently has an average rating of “Hold” and a consensus target price of $6.13.
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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