OneAscent Financial Services LLC Raises Stock Holdings in Ambev S.A. (NYSE:ABEV)

OneAscent Financial Services LLC grew its holdings in Ambev S.A. (NYSE:ABEV) by 41.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,417 shares of the company’s stock after buying an additional 8,340 shares during the quarter. OneAscent Financial Services LLC’s holdings in Ambev were worth $69,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. HTLF Bank purchased a new stake in Ambev in the 3rd quarter worth $26,000. Lake Street Advisors Group LLC purchased a new position in Ambev in the 1st quarter valued at about $28,000. Wealthstream Advisors Inc. acquired a new stake in Ambev in the 3rd quarter worth about $29,000. Riversedge Advisors LLC purchased a new stake in Ambev during the 3rd quarter worth approximately $31,000. Finally, Foster Group Inc. acquired a new position in shares of Ambev during the third quarter valued at approximately $33,000. 8.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ABEV. StockNews.com began coverage on Ambev in a research report on Friday, October 18th. They set a “buy” rating for the company. UBS Group reduced their target price on shares of Ambev from $3.20 to $2.90 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.75.

Ambev Stock Performance

Shares of ABEV opened at $2.18 on Wednesday. Ambev S.A. has a 12-month low of $2.01 and a 12-month high of $3.00. The firm has a market capitalization of $34.34 billion, a P/E ratio of 12.11, a P/E/G ratio of 6.88 and a beta of 1.06. The firm has a 50-day moving average price of $2.30 and a 200 day moving average price of $2.25. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02.

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.