Ambev S.A. (NYSE:ABEV) Shares Sold by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. lowered its position in Ambev S.A. (NYSE:ABEV) by 7.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 79,811,452 shares of the company’s stock after selling 6,720,608 shares during the quarter. Ambev accounts for 13.2% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 5th largest position. Sprucegrove Investment Management Ltd.’s holdings in Ambev were worth $253,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its holdings in shares of Ambev by 117.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 8,233 shares of the company’s stock worth $27,000 after buying an additional 4,448 shares in the last quarter. Ruggaard & Associates LLC bought a new position in shares of Ambev during the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new position in shares of Ambev during the 2nd quarter worth approximately $29,000. Cresset Asset Management LLC bought a new position in shares of Ambev during the 1st quarter worth approximately $30,000. Finally, Psagot Value Holdings Ltd. Israel bought a new position in shares of Ambev during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 8.37% of the company’s stock.

Ambev Stock Down 1.4 %

NYSE:ABEV traded down $0.04 during trading hours on Tuesday, hitting $2.74. 4,752,460 shares of the company traded hands, compared to its average volume of 16,806,344. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $2.62 and its 200-day simple moving average is $2.85. Ambev S.A. has a one year low of $2.40 and a one year high of $3.23. The company has a market cap of $43.16 billion, a PE ratio of 15.28, a PEG ratio of 3.44 and a beta of 1.12.

Ambev (NYSE:ABEV) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Ambev had a return on equity of 17.95% and a net margin of 18.24%. The business had revenue of $4.16 billion for the quarter. Equities analysts predict that Ambev S.A. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABEV shares. TheStreet cut Ambev from a “b” rating to a “c+” rating in a report on Thursday, October 19th. StockNews.com upgraded Ambev from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Ambev presently has a consensus rating of “Buy” and a consensus target price of $3.74.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.