Ambev S.A. (NYSE:ABEV) Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. lessened its stake in Ambev S.A. (NYSE:ABEV) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,823,488 shares of the company’s stock after selling 9,573 shares during the quarter. Ambev makes up approximately 2.6% of Foundation Resource Management Inc.’s holdings, making the stock its 12th biggest holding. Foundation Resource Management Inc.’s holdings in Ambev were worth $16,649,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Radnor Capital Management LLC acquired a new stake in shares of Ambev during the first quarter worth $25,000. Lake Street Advisors Group LLC acquired a new stake in Ambev during the first quarter worth about $28,000. HighPoint Advisor Group LLC bought a new position in Ambev in the fourth quarter worth about $31,000. Foster Group Inc. acquired a new position in Ambev in the third quarter valued at approximately $33,000. Finally, Abacus Wealth Partners LLC acquired a new stake in shares of Ambev during the 1st quarter worth approximately $38,000. Institutional investors own 8.13% of the company’s stock.

Ambev Price Performance

Shares of ABEV opened at $2.31 on Friday. Ambev S.A. has a one year low of $2.01 and a one year high of $3.00. The stock’s fifty day moving average is $2.34 and its 200-day moving average is $2.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.78 and a current ratio of 1.11. The firm has a market capitalization of $36.31 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 5.34 and a beta of 1.05.

Ambev (NYSE:ABEV) last released its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Ambev had a net margin of 17.93% and a return on equity of 16.94%. During the same quarter last year, the company earned $0.03 EPS. Equities analysts anticipate that Ambev S.A. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on ABEV shares. UBS Group lowered their price objective on Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com cut shares of Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.75.

About Ambev

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.