Peapack Gladstone Financial Corp Reduces Stock Position in Ambev S.A. (NYSE:ABEV)

Peapack Gladstone Financial Corp lowered its position in shares of Ambev S.A. (NYSE:ABEVFree Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,790 shares of the company’s stock after selling 4,813 shares during the period. Peapack Gladstone Financial Corp’s holdings in Ambev were worth $173,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABEV. Jump Financial LLC boosted its position in Ambev by 203.9% during the 3rd quarter. Jump Financial LLC now owns 120,191 shares of the company’s stock valued at $310,000 after buying an additional 80,641 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Ambev by 51.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 128,171 shares of the company’s stock valued at $331,000 after acquiring an additional 43,705 shares during the period. Headlands Technologies LLC purchased a new position in Ambev during the 3rd quarter valued at about $242,000. Citigroup Inc. lifted its position in Ambev by 0.6% during the 3rd quarter. Citigroup Inc. now owns 16,327,692 shares of the company’s stock valued at $42,125,000 after acquiring an additional 89,366 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in Ambev during the 3rd quarter valued at about $77,000. Hedge funds and other institutional investors own 8.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABEV. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ambev in a research report on Friday, March 1st. Barclays reduced their price objective on shares of Ambev from $3.00 to $2.50 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Finally, upgraded shares of Ambev from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from, Ambev currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.68.

Read Our Latest Analysis on ABEV

Ambev Stock Performance

Shares of ABEV stock opened at $2.18 on Friday. The company has a 50 day moving average price of $2.33 and a 200-day moving average price of $2.56. Ambev S.A. has a 52 week low of $2.16 and a 52 week high of $3.23. The firm has a market capitalization of $34.26 billion, a PE ratio of 11.45, a P/E/G ratio of 3.25 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 0.99 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEVGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Ambev had a net margin of 18.25% and a return on equity of 17.53%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4 billion. As a group, equities research analysts expect that Ambev S.A. will post 0.18 earnings per share for the current year.

About Ambev

(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.

Further Reading

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Institutional Ownership by Quarter for Ambev (NYSE:ABEV)

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