Assetmark Inc. Sells 12,871 Shares of Anheuser-Busch InBev SA/NV $BUD

Key Points

• Assetmark Inc. cut its stake in Anheuser-Busch InBev by 19.9% in the first quarter, selling 12,871 shares and leaving it with 51,804 shares valued at about $3.59 million.
• Several other institutional investors also adjusted their positions, and institutions now own 5.53% of the company’s stock.
• Wall Street sentiment remains positive overall: the stock has 12 Buy ratings and 5 Hold ratings, with an average target price of $90.08.

Assetmark Inc. trimmed its holdings in shares of Anheuser-Busch InBev SA/NV (NYSE:BUD - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,804 shares of the consumer goods maker's stock after selling 12,871 shares during the period. Assetmark Inc.'s holdings in Anheuser-Busch InBev SA/NV were worth $3,594,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Bessemer Group Inc. increased its position in shares of Anheuser-Busch InBev SA/NV by 145.2% in the first quarter. Bessemer Group Inc. now owns 5,616 shares of the consumer goods maker's stock valued at $389,000 after acquiring an additional 3,326 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Anheuser-Busch InBev SA/NV by 23.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,071 shares of the consumer goods maker's stock valued at $996,000 after purchasing an additional 2,699 shares during the last quarter. Independent Financial Group LLC acquired a new position in Anheuser-Busch InBev SA/NV during the first quarter valued at approximately $208,000. Bank of New York Mellon Corp grew its stake in Anheuser-Busch InBev SA/NV by 15.9% in the first quarter. Bank of New York Mellon Corp now owns 67,750 shares of the consumer goods maker's stock valued at $4,700,000 after purchasing an additional 9,305 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in Anheuser-Busch InBev SA/NV by 11.2% in the first quarter. Sanctuary Advisors LLC now owns 27,378 shares of the consumer goods maker's stock valued at $1,899,000 after purchasing an additional 2,755 shares in the last quarter. Institutional investors own 5.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BUD shares. Weiss Ratings cut Anheuser-Busch InBev SA/NV from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 17th. Royal Bank Of Canada reissued a "buy" rating on shares of Anheuser-Busch InBev SA/NV in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft restated a "neutral" rating on shares of Anheuser-Busch InBev SA/NV in a report on Wednesday, July 1st. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Anheuser-Busch InBev SA/NV in a research report on Tuesday, June 30th. Finally, DZ Bank reiterated a "buy" rating on shares of Anheuser-Busch InBev SA/NV in a research note on Thursday, May 21st. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Anheuser-Busch InBev SA/NV presently has an average rating of "Moderate Buy" and an average target price of $90.08.

Anheuser-Busch InBev SA/NV Stock Up 2.0%

BUD opened at $83.19 on Thursday. Anheuser-Busch InBev SA/NV has a 1-year low of $56.97 and a 1-year high of $85.56. The stock's fifty day simple moving average is $81.31 and its 200 day simple moving average is $76.08. The company has a current ratio of 0.72, a quick ratio of 0.57 and a debt-to-equity ratio of 0.74. The stock has a market cap of $162.25 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.37 and a beta of 0.59.

Anheuser-Busch InBev SA/NV (NYSE:BUD - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The consumer goods maker reported $0.97 EPS for the quarter. Anheuser-Busch InBev SA/NV had a net margin of 11.90% and a return on equity of 16.34%. The firm had revenue of $15.27 billion during the quarter. As a group, research analysts expect that Anheuser-Busch InBev SA/NV will post 4.31 earnings per share for the current year.

Anheuser-Busch InBev SA/NV Company Profile

Anheuser-Busch InBev SA/NV NYSE: BUD is a multinational brewing company headquartered in Leuven, Belgium. It is one of the world's largest brewers and is primarily engaged in the production, distribution and marketing of beer and related beverages. The company's operations span brewing, packaging, logistics and retail/customer sales support, serving a broad set of channels from on-premise hospitality to retail and e-commerce.

AB InBev's portfolio includes a mix of global, regional and local beer brands across mainstream, premium, craft and non-alcoholic categories.

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