Rehmann Capital Advisory Group Makes New $48,000 Investment in Ambev S.A. (NYSE:ABEV)

Rehmann Capital Advisory Group acquired a new stake in Ambev S.A. (NYSE:ABEV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,700 shares of the company’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Ambev by 311.9% in the second quarter. Assenagon Asset Management S.A. now owns 768,419 shares of the company’s stock worth $1,575,000 after acquiring an additional 581,880 shares during the last quarter. Raymond James & Associates lifted its position in shares of Ambev by 154.0% during the 2nd quarter. Raymond James & Associates now owns 1,805,328 shares of the company’s stock worth $3,701,000 after purchasing an additional 1,094,629 shares during the last quarter. Seafarer Capital Partners LLC grew its stake in shares of Ambev by 6.3% during the third quarter. Seafarer Capital Partners LLC now owns 30,069,000 shares of the company’s stock worth $73,368,000 after purchasing an additional 1,770,000 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Ambev by 32.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,067,893 shares of the company’s stock valued at $2,606,000 after buying an additional 258,875 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in Ambev by 23.9% in the second quarter. Brandes Investment Partners LP now owns 15,456,266 shares of the company’s stock valued at $32,024,000 after buying an additional 2,982,621 shares in the last quarter. 8.13% of the stock is owned by institutional investors and hedge funds.

Ambev Stock Down 1.6 %

Shares of NYSE:ABEV opened at $2.15 on Friday. The firm has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $2.23. Ambev S.A. has a twelve month low of $2.01 and a twelve month high of $3.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $33.79 billion, a PE ratio of 11.92, a P/E/G ratio of 6.67 and a beta of 1.05.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Ambev in a research report on Friday, October 18th. They set a “buy” rating for the company.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.