Massachusetts Financial Services Co. MA Purchases 1,914,467 Shares of Ambev S.A. (NYSE:ABEV)

Massachusetts Financial Services Co. MA raised its position in Ambev S.A. (NYSE:ABEVFree Report) by 5.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 35,318,227 shares of the company’s stock after acquiring an additional 1,914,467 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.22% of Ambev worth $91,121,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABEV. BlackRock Inc. increased its holdings in Ambev by 8.1% during the 2nd quarter. BlackRock Inc. now owns 58,604,106 shares of the company’s stock worth $186,361,000 after purchasing an additional 4,368,652 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Ambev by 244.5% during the second quarter. Goldman Sachs Group Inc. now owns 43,146,270 shares of the company’s stock worth $108,297,000 after buying an additional 30,623,051 shares in the last quarter. JPMorgan Chase & Co. raised its position in Ambev by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,008,393 shares of the company’s stock valued at $124,047,000 after buying an additional 2,696,110 shares during the last quarter. Perpetual Ltd lifted its stake in Ambev by 2.0% during the 3rd quarter. Perpetual Ltd now owns 29,186,653 shares of the company’s stock valued at $75,302,000 after acquiring an additional 580,137 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Ambev by 102.1% during the 1st quarter. Renaissance Technologies LLC now owns 22,177,326 shares of the company’s stock worth $62,540,000 after acquiring an additional 11,204,526 shares during the last quarter. 8.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup began coverage on shares of Ambev in a research note on Thursday, December 7th. They issued a “buy” rating for the company. Morgan Stanley upgraded Ambev from an “underweight” rating to an “equal weight” rating in a research note on Friday, December 8th. StockNews.com started coverage on shares of Ambev in a research report on Friday, January 26th. They set a “buy” rating for the company. Jefferies Financial Group assumed coverage on shares of Ambev in a research report on Wednesday, November 22nd. They set a “hold” rating and a $2.86 target price for the company. Finally, TheStreet raised shares of Ambev from a “c+” rating to a “b-” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3.30.

Get Our Latest Stock Report on ABEV

Ambev Trading Down 2.3 %

Ambev stock opened at $2.59 on Thursday. The stock has a market cap of $40.79 billion, a P/E ratio of 14.39, a PEG ratio of 2.68 and a beta of 1.09. Ambev S.A. has a fifty-two week low of $2.40 and a fifty-two week high of $3.23. The firm’s fifty day moving average price is $2.77 and its 200-day moving average price is $2.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.79 and a current ratio of 1.11.

Ambev Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, January 8th. Stockholders of record on Tuesday, December 26th were issued a dividend of $0.1443 per share. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, December 22nd. Ambev’s payout ratio is 144.45%.

Ambev Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

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