Shares of Ambev S.A. (NYSE:ABEV – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $2.90, but opened at $3.24. Ambev shares last traded at $3.3450, with a volume of 10,197,184 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Barclays raised their target price on Ambev from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 17th. Wall Street Zen cut Ambev from a “buy” rating to a “hold” rating in a research note on Monday, March 30th. UBS Group set a $2.65 target price on Ambev and gave the stock a “sell” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings raised Ambev from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ambev has an average rating of “Hold” and an average price target of $2.84.
Get Our Latest Research Report on Ambev
Ambev Stock Performance
Ambev (NYSE:ABEV – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.36 billion. Ambev had a return on equity of 16.41% and a net margin of 17.75%. Equities analysts anticipate that Ambev S.A. will post 0.19 earnings per share for the current fiscal year.
Insider Buying and Selling at Ambev
In other news, insider De Lacerda Eduardo Cavalcanti sold 152,386 shares of the business’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $2.85, for a total value of $434,300.10. Following the completion of the sale, the insider directly owned 223,340 shares of the company’s stock, valued at approximately $636,519. The trade was a 40.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Hedge Funds Weigh In On Ambev
Institutional investors have recently added to or reduced their stakes in the stock. Modern Wealth Management LLC acquired a new position in Ambev in the 3rd quarter valued at about $25,000. Monument Capital Management acquired a new position in Ambev in the 4th quarter valued at about $25,000. First Trust Advisors LP acquired a new position in Ambev in the 3rd quarter valued at about $25,000. Integrated Wealth Concepts LLC acquired a new position in Ambev in the 1st quarter valued at about $26,000. Finally, Bensler LLC acquired a new position in Ambev in the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 8.13% of the company’s stock.
Ambev Company Profile
Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.
The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.
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