Ambev S.A. (NYSE:ABEV) Holdings Trimmed by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. reduced its stake in shares of Ambev S.A. (NYSE:ABEV - Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,098,572 shares of the company's stock after selling 4,065,900 shares during the quarter. Ambev makes up 8.8% of Sprucegrove Investment Management Ltd.'s holdings, making the stock its 6th largest position. Sprucegrove Investment Management Ltd. owned 0.46% of Ambev worth $201,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in ABEV. Goldman Sachs Group Inc. lifted its stake in shares of Ambev by 244.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 43,146,270 shares of the company's stock worth $108,297,000 after purchasing an additional 30,623,051 shares during the last quarter. BlackRock Inc. raised its stake in Ambev by 39.1% in the third quarter. BlackRock Inc. now owns 48,691,824 shares of the company's stock valued at $137,798,000 after buying an additional 13,691,138 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ambev by 102.1% in the first quarter. Renaissance Technologies LLC now owns 22,177,326 shares of the company's stock valued at $62,540,000 after buying an additional 11,204,526 shares during the last quarter. Millennium Management LLC raised its stake in Ambev by 34,240.8% in the fourth quarter. Millennium Management LLC now owns 8,181,005 shares of the company's stock valued at $22,252,000 after buying an additional 8,157,182 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Ambev by 73.6% in the fourth quarter. Deutsche Bank AG now owns 10,928,300 shares of the company's stock valued at $29,725,000 after buying an additional 4,632,200 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABEV has been the subject of a number of research analyst reports. Barclays cut Ambev from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $3.50 to $3.00 in a research note on Monday, March 4th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Ambev in a research note on Friday, March 1st. Finally, StockNews.com initiated coverage on Ambev in a research note on Friday, January 26th. They issued a "buy" rating for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $3.20.

Ambev Stock Performance

Shares of NYSE:ABEV traded down $0.05 during trading on Friday, hitting $2.35. The stock had a trading volume of 9,752,566 shares, compared to its average volume of 12,896,152. Ambev S.A. has a 12-month low of $2.33 and a 12-month high of $3.23. The stock has a market capitalization of $37.01 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.43 and a beta of 1.08. The company has a quick ratio of 0.66, a current ratio of 0.89 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $2.52 and a two-hundred day simple moving average of $2.64.

Ambev (NYSE:ABEV - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Ambev had a return on equity of 17.60% and a net margin of 18.19%. The firm had revenue of $4.04 billion during the quarter. On average, equities research analysts expect that Ambev S.A. will post 0.19 earnings per share for the current fiscal year.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, 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, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.