Fifth Third Bancorp Sells 14,754 Shares of Ambev S.A. (NYSE:ABEV)

Fifth Third Bancorp trimmed its stake in Ambev S.A. (NYSE:ABEV) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 487,691 shares of the company’s stock after selling 14,754 shares during the period. Fifth Third Bancorp’s holdings in Ambev were worth $1,366,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LPL Financial LLC grew its position in Ambev by 8.9% during the second quarter. LPL Financial LLC now owns 42,202 shares of the company’s stock valued at $134,000 after acquiring an additional 3,464 shares during the last quarter. 1900 Wealth Management LLC grew its position in Ambev by 8.4% during the third quarter. 1900 Wealth Management LLC now owns 50,942 shares of the company’s stock valued at $131,000 after acquiring an additional 3,953 shares during the last quarter. Baron Wealth Management LLC grew its position in Ambev by 11.5% during the fourth quarter. Baron Wealth Management LLC now owns 38,362 shares of the company’s stock valued at $107,000 after acquiring an additional 3,963 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in Ambev by 4.9% during the first quarter. Peapack Gladstone Financial Corp now owns 85,567 shares of the company’s stock valued at $241,000 after acquiring an additional 3,974 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Ambev by 3.8% during the second quarter. PNC Financial Services Group Inc. now owns 113,671 shares of the company’s stock valued at $361,000 after acquiring an additional 4,116 shares during the last quarter. 8.13% of the stock is currently owned by institutional investors.

Ambev Stock Performance

Shares of ABEV stock opened at $2.45 on Friday. The stock has a fifty day moving average of $2.55 and a 200 day moving average of $2.65. Ambev S.A. has a 52 week low of $2.37 and a 52 week high of $3.23. The firm has a market capitalization of $38.59 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.44 and a beta of 1.08. The company has a quick ratio of 0.66, a current ratio of 0.89 and a debt-to-equity ratio of 0.03.

Ambev (NYSE:ABEV) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Ambev had a return on equity of 17.60% and a net margin of 18.19%. The company had revenue of $4.04 billion during the quarter. As a group, research analysts expect that Ambev S.A. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

ABEV has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Ambev in a research report on Friday, January 26th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ambev in a research note on Friday, March 1st. Barclays lowered Ambev from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $3.50 to $3.00 in a research note on Monday, March 4th. Morgan Stanley raised Ambev from an “underweight” rating to an “equal weight” rating in a research note on Friday, December 8th. Finally, Citigroup began coverage on Ambev in a research note on Thursday, December 7th. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3.20.

Ambev Profile

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.