Ambev S.A. (ABEV) Downgraded to “Sell” at BidaskClub
Ambev S.A. (NYSE:ABEV) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
Several other equities research analysts also recently issued reports on the stock. Credit Suisse Group raised shares of Ambev from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Ambev from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Monday, July 10th. Evercore ISI reaffirmed an “outperform” rating and set a $8.50 price target (up previously from $7.00) on shares of Ambev in a research note on Friday, October 13th. Finally, Barclays PLC reissued a “hold” rating on shares of Ambev in a report on Sunday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.28.
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A number of hedge funds have recently made changes to their positions in the business. Bbva Compass Bancshares Inc. grew its holdings in Ambev by 11.5% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 304,338 shares of the company’s stock worth $2,006,000 after acquiring an additional 31,357 shares in the last quarter. Deltec Asset Management LLC grew its holdings in Ambev by 11.9% during the 3rd quarter. Deltec Asset Management LLC now owns 700,275 shares of the company’s stock worth $4,615,000 after acquiring an additional 74,500 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in Ambev by 8.0% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 3,977,983 shares of the company’s stock worth $26,215,000 after acquiring an additional 296,153 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Ambev during the 3rd quarter worth $1,847,000. Finally, Eagle Ridge Investment Management grew its holdings in Ambev by 6.2% during the 3rd quarter. Eagle Ridge Investment Management now owns 417,094 shares of the company’s stock worth $2,749,000 after acquiring an additional 24,529 shares in the last quarter. 7.32% of the stock is owned by institutional investors.
Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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