Procyon Advisors LLC purchased a new stake in Ambev S.A. (NYSE:ABEV – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,537 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds have also recently bought and sold shares of the company. Morgan Stanley raised its position in Ambev by 180.1% in the 3rd quarter. Morgan Stanley now owns 9,171,858 shares of the company’s stock valued at $25,314,000 after buying an additional 5,897,089 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Ambev by 19.0% in the third quarter. Royal Bank of Canada now owns 2,194,909 shares of the company’s stock worth $6,058,000 after purchasing an additional 351,084 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Ambev by 20.3% during the third quarter. Cubist Systematic Strategies LLC now owns 176,258 shares of the company’s stock worth $486,000 after purchasing an additional 29,790 shares during the last quarter. Squarepoint Ops LLC grew its position in Ambev by 79.2% in the third quarter. Squarepoint Ops LLC now owns 181,123 shares of the company’s stock valued at $500,000 after purchasing an additional 80,068 shares in the last quarter. Finally, Cetera Advisor Networks LLC acquired a new stake in Ambev in the 3rd quarter valued at $29,000. 8.48% of the stock is owned by institutional investors.

Separately, StockNews.com upgraded Ambev from a “hold” rating to a “buy” rating in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Ambev has a consensus rating of “Hold” and a consensus price target of $3.50.

Shares of ABEV opened at $2.58 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $2.82. Ambev S.A. has a 1-year low of $2.42 and a 1-year high of $3.55. The company has a market cap of $40.60 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.85 and a beta of 1.09.

Ambev (NYSE:ABEV – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Ambev had a net margin of 18.06% and a return on equity of 16.87%. As a group, research analysts forecast that Ambev S.A. will post 0.16 earnings per share for the current year.

Ambev Profile (Get Rating)

Ambev SA, through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products in the Americas. The company operates through four segments: Brazil; Central America and the Caribbean; Latin America South; and Canada.

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