Nordea Investment Management AB raised its stake in Ambev SA (NYSE:ABEV) by 1.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,698,542 shares of the company’s stock after buying an additional 35,201 shares during the period. Nordea Investment Management AB’s holdings in Ambev SA were worth $15,544,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedbush Securities Inc. boosted its position in shares of Ambev SA by 2.2% in the first quarter. Wedbush Securities Inc. now owns 17,365 shares of the company’s stock valued at $100,000 after buying an additional 369 shares in the last quarter.
Integrated Investment Consultants LLC boosted its position in shares of Ambev SA by 11.6% in the first quarter. Integrated Investment Consultants LLC now owns 18,252 shares of the company’s stock valued at $105,000 after buying an additional 1,895 shares in the last quarter.
Royal Bank of Scotland Group PLC boosted its position in shares of Ambev SA by 36.5% in the third quarter. Royal Bank of Scotland Group PLC now owns 17,782 shares of the company’s stock valued at $108,000 after buying an additional 4,758 shares in the last quarter.
RMB Capital Management LLC acquired a new position in shares of Ambev SA during the fourth quarter valued at approximately $108,000. Finally, Parallel Advisors LLC acquired a new position in shares of Ambev SA during the fourth quarter valued at approximately $117,000. 7.33% of the stock is currently owned by institutional investors.
Shares of Ambev SA (NYSE:ABEV) traded up 0.260% during trading on Wednesday, hitting $5.775. 3,684,455 shares of the stock were exchanged. The firm has a market capitalization of $90.68 billion, a price-to-earnings ratio of 24.470 and a beta of 0.72. The stock’s 50 day moving average price is $5.82 and its 200 day moving average price is $5.44. Ambev SA has a 52 week low of $4.70 and a 52 week high of $6.39.
Several research analysts have recently commented on the stock. Citigroup Inc cut shares of Ambev SA from a “buy” rating to a “neutral” rating in a report on Friday, March 3rd. Zacks Investment Research cut shares of Ambev SA from a “buy” rating to a “hold” rating in a research note on Monday, March 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Ambev SA has an average rating of “Hold” and an average target price of $6.21.
About Ambev SA
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.